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To Fix Obamacare, Make Congress Use It

September 7, 2017

How many of you were mad when the Affordable Care Act, or Obamacare, wasn’t repealed or replaced? The Republicans have majority control of the federal government and still could not deliver on one of their hallmark pieces of legislation. But, there is a remedy.

The president has the power to order Congress to get health care through the Obamacare exchanges. That’s because President Obama enacted many of the rules through executive order. So, they can be changed later using the same method.

It’s an intriguing idea that seems fair, quite frankly. As President Trump said, if people are hurting, so too should politicians and insurance companies. The way we got here is interesting. The members of Congress, with the help of President Obama and his personnel staff, made themselves small businesses. I’m not kidding. That allowed them to get federal subsidies for insurance and purchase plans available on a Washington D.C.-based small business exchange.

One senator is asking questions about it. Unsurprisingly, there is little support for the inquiry. Is there a better way to quickly remedy the broken health care law than to make those who enacted it be subject to its effects? It’s one of the best ideas I’ve heard so far.

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This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. Please consult with a professional specializing in these areas regarding the applicability of this information to your situation.

Andrew Wood, Dan Simon and Alison Slezak are Investment Advisor Representatives. Advisory services are offered through CoreCap Advisors, LLC., a Registered Investment Advisor. CoreCap Advisors, LLC and Daniel A. White & Associates, LLC are separate & unaffiliated entities. 

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