With the election safely behind us, and Donald Trump as the victor, it has left many Americans wondering how a Trump presidency will affect the medical industry. While campaigning, President Elect Trump made it no secret how he felt about the Affordable Care Act. When the Affordable Care Act was brought up during a presidential debate, Trump mentioned repealing the act and replacing it with something better and less expensive. Now, with his upcoming presidency on the horizon, we are left wondering, “what is going to happen to healthcare?
Repealing The Affordable Care Act
In order for Trump to repeal the Affordable Care Act in its entirety, he must receive votes from 60 members of Senate. With a democratic filibuster being the only political defense against repealing the Affordable Care Act, 60 votes are needed to overcome a filibuster should one arise. Even with Republicans controlling the Senate, mustering up support from 60 of the 100 Senators may not be feasible. Therefore, it is not likely we will see a complete repeal of the Affordable Care Act in the near future.
Proposed Changes to The Affordable Care Act
More likely than a complete repeal, Trump will work towards making changes to the act, such as smaller, legislative changes that feature more of his proposed plans, such as making healthcare more affordable. Trump’s proposed changes could include:
- Promotion of tax-free HSA (health savings accounts) to aid in saving money to pay for healthcare costs
- Eliminating the requirement to purchase health insurance
- Allowing for the deduction of health care premiums on personal tax returns
- Boosting competition between insurance providers by allowing insurers to sell policies across state lines.
- Promotion of high-deductible health plans
- Altering the manner in which the healthcare marketplace works
Six years ago the Affordable Care Act had Americans up in arms. Now, the potential repeal of the act is causing the same reaction for many. Although it is unclear at this time which route Trump will go in regards to healthcare, one thing is certain: healthcare will be changing in the near future. If Trump repeals or alters the way the affordable care act works, you are likely to see a large increase in the number of uninsured americans. However, only time will tell.
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