President Donald Trump plans to cut off subsidy payments to insurers selling Obamacare coverage in his most aggressive move yet to undermine the health care law, the White House said late Thursday.
The subsidies, which are worth an estimated $7 billion this year and are paid out in monthly installments, may stop almost immediately since Congress hasn’t appropriated funding for the program. POLITICO reported the development earlier Thursday, citing several sources.
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The decision, leaked only a few hours after Trump signed an executive order calling for new regulations to encourage the rise of a raft of cheap, loosely regulated health plans, delivers a double blow to Obamacare after months of failed GOP efforts to repeal the law. With open enrollment for the 2018 plan year set to launch in two weeks, the moves seem aimed at dismantling the law…
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