Under Secretary Price’s proposed rule, a health insurance company could deny coverage during the open enrollment period if the consumer had a health plan through the company in the prior year, but let the coverage lapse for non-payment. Before the consumer could enroll in the plan, the insurance company could demand payment for those months after the plan was terminated for non-payment.
Newly minted Health and Human Services Secretary Price has wasted no time issuing press releases to promote the much aligned Trumpcare alternative to Obamacare. As soon as the American Health Care Act (AHCA) was introduced HHS started touting Trumpcare as it has been dubbed. While most HHS news releases try to be upbeat, positive, and fact-based, Secretary Price has begun issuing HHS press releases to counter negative coverage Trumpcare has been getting.
In order determine how my clients might be affected by the proposed new Premium Tax Credits under the American Heath Care Act (AHCA or Trumpcare) introduced by the Republicans in March 2017, I compared the current income based Premium Tax Credits under the ACA to the new age based tax credits of the AHCA. On average, my clients included in the comparison will lose $157 per month to help pay for their health insurance. Young individuals, under 30 years old, have the smallest change of premium tax credit under the age based rules. Within my clients, people over 55 year old will get hit the hardest losing $200 to $400 per month in premium tax credit assistance.