How does Trumpcare stack up against Obamacare?

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How does Trumpcare stack up against Obamacare?

Trumpcare Categories Obamacare
The individual mandate will be eliminated under Trumpcare, thus removing one incentive for people to sign up for health insurance. Individual Mandate Under Obamacare, the individual mandate requires all eligible citizens to have health insurance, which makes coverage affordable nationwide.
Trump has called for “price transparency” under his plan, the details of which have not yet been released. Price Transparency On the marketplaces, consumers can see pricing and coverage information in detail. The ACA has already made great strides regarding price transparency.
Trump likes the pre-existing condition requirement of the ACA, but coverage for pre-existing conditions may become more expensive under his plan. Pre-Existing Conditions People with pre-existing conditions cannot be denied coverage or charged higher insurance rates under the ACA.
Trump’s plan may include federal subsidies to help people buy insurance, but these subsidies would be based on age rather than income. Cost Assistance People who earn up to 4x the federal poverty line can get cost assistance to buy insurance on the marketplace — 85% of people who sign up qualify.
Trump has proposed block-granting funding to Medicaid, which means states would get a lump sum of federal money to fund their programs as they see fit. Medicaid funding Current Medicaid funding is based on an open-ended matching system whereby the federal government guarantees at least $1 for every $1 spent by the state.
Under Trumpcare, people may be able to deduct the full cost of their health insurance premiums from their federal tax returns each year. Tax Deductions Right now, people can only deduct medical expenses if these costs exceed 10 percent of the household’s adjusted gross income.
Trump has discussed the idea of allowing people to purchase prescription drugs from foreign countries, which he believes will lower costs. Prescription Drugs There has been bipartisan support for overseas drug importation in the past. As it stands, there are no provisions in the ACA that specifically address this.
Health Savings Accounts, which are tax-advantaged medical savings accounts, would be bolstered under Trumpcare. Health Savings Accounts Individuals have the option to use HSAs under Obamacare, but most people don’t because they require high-deductible health plans and significant funding./td>
Trump wants to remove barriers so that insurance companies can sell across state lines, a move that he believes will spur competition and drive down costs. Interstate Insurance Sales Current laws, including complex regulatory and licensing issues, keep insurers state-bound because states have different needs for their insureds.

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