Summary
President Donald Trump mentioned a possible short-term extension of Obamacare subsidies as their expiration could lead to increased health insurance costs. This affects small business workers, retirees, and students. Trump prefers a plan that directs funds to people directly rather than insurance companies.
Key Facts
- President Trump discussed extending Obamacare health subsidies during a conversation with reporters.
- The subsidies are set to expire, which could significantly raise health insurance costs for many people.
- If subsidies lapse, the Congressional Budget Office predicts premiums could more than double, leaving about 2 million more people without insurance.
- The administration aims to stop big increases in premium costs.
- Trump opposes a two-year extension of subsidies, favoring a plan to give money directly to individuals.
- A draft plan to extend subsidies for two more years was circulated by the White House.
- Enhanced subsidies were initially made to lower costs during the pandemic and extended through 2025.
- A long-term extension of these subsidies over 10 years could cost $350 billion according to budget estimates.
