2016 had many people preparing for Obamacare, but President Trump is going to replace the healthcare program introduced by the previous president. Despite the numerical success of Obamacare, President Trump plans to implement a new health plan (Trumpcare), which experts are predicting to be readily adoptedby medical practices as soon as it is introduced. Now no one can say for sure what Trumpcare would eventually look like, but one can definitely get a general idea on it based on the seven-point health reform plan Trump released during his presidential campaign last March. Here’s its quick summary developed by EMR Systems:
- Repeal Obamacare
- Block grant Medicaid to the states
- Promote the use of Health Savings Accounts
- Allow health insurance to be sold across state lines
- Full health-premium tax deductions for individuals
- Remove barriers to entry for overseas drug producers
- Require better price transparency from health insurers
If one was to analyze the mentioned points, one would clearly see that Trump’s plan mostly involves the idea of furthering free-market competition and eradicating federal government intervention. The block-granting Medicaid to the states is being seen as the most popular section of Trump’s seven-point plan. In its essence, it means that the federal government would stop dictating where Medicaid funds would go. This would allow the states to handle that objective as they probably have a better idea of where the money should be utilized. Block-granting Medicaid would save money and permit federal Medicaid dollars to stretch further.
It’s expected that in order to formulate a solution, Trump’s health reform plan will be blended together with Obamacare in the coming weeks. Experts further say that Trump and congressional Republicans stand ready to remove critical aspects of Obamacare, in a case of the unavailability of Trumpcare, through a process known as reconciliation. This process would remove those aspects of Obamacare that in certain ways tend to affect the federal budget. On the other hand, it is being said that in a month or less Obamacare’s SRP and subsidies would be on their way out.