One of the major campaign promises that Donald J. Trump, the 45th President of the United States, made was that he would work diligently to repeal Obamacare. It has been evident since the beginning that the Affordable Care Act (ACA) was not really affordable to anyone involved and that it was costing more to maintain than the benefits it was intended to provide. While some politicians felt that it could be kept if overhauled, many felt it was a waste of taxpayer dollars and agreed with President Trump that it should be repealed. But, what will it mean to Americans if Obamacare is finally repealed?
How Many People Will Be without Health Insurance?
Because Obamacare made it mandatory for everyone to carry health insurance, the one major concern is that the millions who bought into coverage would once again be without insurance. Before Obamacare legislation was enacted, it was estimated that greater than 41 million Americans were uninsured to the 28 million still without coverage. Will that number slip back up, or even beyond, the number who were previously without health insurance? At this time, it is anyone’s guess because President Trump also promised to replace the ACA with something much more affordable with equal or even better coverage.
When Will Penalties for Not Buying Health Insurance End?
While there were exemptions from the tax penalty in place for those who could not buy into health insurance for a number of pre-determined reasons, anyone whom the government deemed able to afford coverage would be penalized at tax time if they didn’t purchase health insurance. Typically, the rule states for a period of three months within a calendar year. Even those who bought into short term health insurance while looking for affordable long term coverage were often subject to the penalty as well. Some short term health insurance didn’t meet with Obamacare minimum requirements. As of this time, the penalty remains in effect for 2016 tax filing, according to information being disseminated by the government.
The Bottom Line Is?
Of course, it takes an Act of Congress to repeal another Act of Congress, but the bottom line is yet to unfold. There are some elements of Obamacare that meet with President Trump’s approval such as the issues involving pre-existing conditions and the age at which children can legally stay on their parents’ policies. President Trump and some members of Congress would like to keep those coverages but will they hold? The bottom line is, no one knows at this time as the GOP replacement bill was just introduced in late January.
In other words, no one knows what this will mean to Americans until an alternative is submitted and voted on. Will Obamacare be repealed or amended? Again, there is no way of foretelling the future and if there was, the media would not have predicted Hillary Clinton as the hands-down winner. President Trump said there would be an alternative, but even that is sketchy because he would need the backing of both houses to pass any legislation that meets with his approval. In the meantime, what it means to Americans is that it is business as usual until further notice.