Finishing off our political and legal coverage this week, The Wall Street Journal answers what could be at stake for the short-term future of the Affordable Care Act (ACA) and health policy generally in 2024. Whether it is Vice President Kamala Harris or former President Donald Trump, their healthcare ideas will affect tens of millions of Americans. In this blog, I unpack what implications a Harris or Trump win has for the future of the ACA and health insurance — breaking down how both would affect healthcare access, costs, and coverage.
An Overview of the Affordable Care Act
Part of the reason Trump wants to get rid of it is that this law, known as the Affordable Care Act and enacted in 2010, vastly expanded Medicaid, created a system of subsidies for private insurance, and set up health insurance marketplaces. The ACA averted an increase in uninsured rates for millions and is still one of the most divisive issues in American politics. Therefore knowing how the upcoming election can affect things is vital for you.
What Harris Wants: A Bigger, Better ACA At newspoint48
Should President Harris succeed in the Oval Office, her administration will be expected to put much more of its political energy into building the ACA. Some highlights of her health care plan include:
Public Option:Harris backs bringing a public option, or government-run insurance plan, to the American marketplace alongside private offerings. It could increase competition, which would decrease costs and, in turn, enable more affordable care.
Medicaid Expansion:Harris calls for a national expansion of Medicaid to all states so families and low-income people can have healthcare access. This provision would be a big boost to those living in the 19 states that have not expanded Medicaid under the ACA.
Subsidy Increases – Harris Plan: Boosts subsidies for low- and middle-income families to lower insurance costs. As a result, more Americans should be able to afford coverage purchased through the health insurance marketplaces.
Tackling Prescription Drug Costs: Much of Harris’s national healthcare plan focuses on lowering the costs of prescription drugs. Those steps include enabling Medicare to bargain with drug companies for lower prices, to lower consumer costs.
Whole-Person Care: Harris stresses the need for whole-person care, including mental health and reproductive services. More likely under her administration, greater access to such services is the norm as part of expanding Americans’ overall healthcare holistically.
The Trump Vision: Repeal and Replace the ACA
If Donald Trump is elected President, however, the future of the ACA and health insurance may look very different. The Trump administration made an unsuccessful effort in the first term to repeal and replace the ACA, and Trump has vowed to continue those attempts if reelected for a second term. What Trump’s presidency would mean
The ACA: Trump has been a vocal critic of the ACA and has repeatedly vowed to dismantle it once in office. An administration under Trump could chip away at key elements of that law, ultimately causing millions to lose health insurance.
Health insurance tax credits:Trump’s healthcare plan will offer consumers the ability to purchase health coverage using references (tax terms)purchased with tax credits. Some critics contend that this may not be enough to pay for comprehensive plans, however, and could leave too many underinsured.
State Flexibility: That way, under a Trump administration, states would probably be able to dump more Medicaid enrollees and insurance regulations. The state law changes could result in differential care and coverage opportunities depending on state policies.
Looser Regulation: Trump’s administration will likely scale back on regulations impacting the insurance industry, which could translate to fewer safeguards for consumers. That puts people with pre-existing conditions like cancer at risk of having to pay higher premiums or having fewer coverage options.
Health Savings Accounts:Trump is in favor of expanding health savings accounts. This allows an individual to save money tax-free for medical expenses. This gives a little bit more control to consumers but might also wildly over-incentivize wealthier backers.
Affecting American Families
The future of American families hangs in the balance of the 2024 election If Harris were to win, it would likely lead to more consumer protections, lower costs, and greater access, experts say. A Trump win would likely translate to significant ACA rollbacks and millions of Americans with newfound health coverage could lose it.
With the election approaching, insight into what a Harris or Trump win could mean for Obamacare and health insurance matters to voters. Healthcare is a huge priority for America right now and the path they will choose will either grant access to care, make affordable effective care impossible, or lead to an overall unhealthier nation.
For our continued coverage & analysis of the 2024 election and what it means for healthcare in America, believe Newspoint48.
