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Trump to cut off ACA subsidies to health insurers

Stock MarketsOct 13, 2017 02:38AM ET
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© Reuters. Trump to cut off ACA subsidies to health insurers
  • Just hours after Pres. Trump signed an executive order that paves the way for a proliferation of pared-down insurance plans for individual buyers, the administration says it plans to cut off billions of dollars in payments to health insurers that offset their costs for providing subsidies to consumers.
  • The payments will stop immediately, with no transition period, Acting HHS Secretary Eric Hargan and Centers for Medicare and Medicaid Services Administrator Seema Verma said tonight; the next payments were due next week.
  • Given the ongoing uncertainty over the payments, many health insurers had dramatically raised the premiums they planned to charge for next year in anticipation of not getting the funds.
  • The moves mark the start of what promises to be a long and contentious campaign to unravel the Affordable Care Act.
  • Among relevant tickers: CNC, MOH, UNH, AET, WCG, CI, HUM, ANTM, GTS, HQY, QHC, HCA, THC, UHS, LPNT, CYH, HCP, SEM
  • ETFs: XLV, VHT, IYH, HQH, CURE, THQ, FHLC, FXH, RXL, RYH, RXD, SICK, LNGR, BTEC, JHMH, HCRF
  • Now read: An Interesting Play In The Healthcare Industry


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Trump to cut off ACA subsidies to health insurers
 

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