Summary
President Donald Trump supports a Republican plan to give Americans a one-time payment of $1,000 to $1,500 as part of a health care proposal. This plan looks to help certain Affordable Care Act enrollees by placing the funds into health savings accounts. The proposal comes amid discussions on how to address rising health care costs as current subsidies are set to expire.
Key Facts
- President Trump backs a plan to give $1,000 to $1,500 to Americans in health care accounts.
- Senators Bill Cassidy and Mike Crapo introduced this proposal.
- The payments are intended for certain Affordable Care Act (ACA) enrollees.
- The proposal allows funds to be used only for approved medical expenses and excludes abortion or gender transition care.
- Health care costs may rise for over 20 million Americans as subsidies expire at the end of December.
- Democrats want to extend tax credits related to ACA, while Republicans have different plans.
- A health savings account (HSA) is a tax-advantaged account for medical expenses, with tax-free contributions, growth, and withdrawals.
- Republican Senator Bernie Moreno has introduced another health care plan called the CARE Act.
