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President Donald Trump on Tuesday announced his vision for fixing the chaotic Obamacare health insurance program, and with millions of Americans set to lose ACA tax subsidies in just a matter of weeks, the solution can’t come soon enough.
“Obamacare was made for making insurance companies rich,” President Trump said during a cabinet meeting. “Their stocks have gone up 1,000 percent in a short period of time, because the money goes to the insurance company. I want the money to go to the people.”
“Let the people go out and buy their own healthcare, and I see on television, people are advertising now, ‘we will help you buy healthcare,’” he noted. “…Something’s going to happen, it’s probably not going to be easy because the Democrats, frankly, never want to make a good deal for the people.”
He added, “Trillions of dollars get paid to drug companies, and you still have lousy healthcare. Obamacare is horrible healthcare.”
The president also confirmed that Republicans were negotiating this issue right now with the Democrat Party.
As reported by RSBN, President Trump is poised to announce, at some point, a broad framework for a healthcare plan that could assuage the skyrocketing health premiums in the wake of the Affordable Care Act’s expiring subsidies, which will leave millions of Americans facing unthinkable healthcare premium price gouging after December 31.
“We believe health care is going to come down. We will see an announcement this coming week on that. And so across the board, prices are starting to come down,” said U.S Treasury Secretary Scott Bessent in late November.
With a handful of weeks before the ACA subsidies expire, Republicans are facing an extreme time crunch to fix the healthcare problem before 22 million Americans face the skyrocketing prices or lose their coverage altogether.
The president may consider a temporary extension of the ACA subsidies until a healthcare proposal can be introduced and potentially passed through Congress.
“Trump’s plan to temporarily extend subsidies to protect consumers while we implement reforms to rein in insurance companies is the best way to deal with the mess dumped in our laps by the Democrats,” said Rep. Nicole Malliotakis, R-N.Y., alluding to the possible extension.
Without a Republican-crafted healthcare plan in the waning weeks of 2025, Democrats will likely push a simple extension of the ACA subsidies before the end of the year, CNN reported.