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Obamacare Battle Brewing

August 27, 2018

The Affordable Care Act, otherwise known as Obamacare, is complicated these days.


Yet, it’s still a big issue, and for some reason it’s flying under the radar.


President Trump said he wants Obamacare gone. However, he did mention in the past he would not get rid of protections for people with preexisting conditions.


That’s good, since 130 million Americans have some sort of preexisting condition. A recent Kaiser Family Foundation poll found that nearly 70 percent of Americans consider those protections as among the most important issues on the campaign trail.


Clearly, this subject matters to a lot of people.


So why have President Trump and his administration not endured more criticism for declaring Obamacare unconstitutional, and as a result, likely removing protections for preexisting conditions?


As of 2019, the “individual mandate” portion of Obamacare, which requires individuals to have health insurance or pay a fine, will be unconstitutional. In other words, the government can’t make people buy insurance.


This came from 20 states suing the federal government over Obamacare. If the courts uphold the argument, insurance companies will be able to discriminate against those with preexisting conditions.


This is a major battle and hardly anyone is talking about it.


Nothing will probably happen in 2018, since midterm elections will take place. But beyond that, removing preexisting condition protections would seem to be political suicide. Even suggesting that could be disastrous.


With more folks dropping coverage and Obamacare’s enrollment funding being decreased, the program’s future doesn’t look good.


But we knew that.


Look, it’s an unsustainable policy and must be changed. But Americans are clear – keeping protections for preexisting conditions is a must, and it will have to be done without making costs skyrocket.

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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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