The Affordable Care Act changed the way Americans received healthcare and made healthcare more accessible than ever. However, things may change soon as America’s new president elect, Donald Trump steps in to eliminate Obamacare and change the way Americans get health insurance once again. If you were satisfied with the effects of the ACA or are happy to see it disappear, here’s a closer look at what may be in store in the upcoming years.
No More Obamacare
Trump promised that he would ask Congress to immediately repeal Obamacare on day one of the Trump administration. Americans will no longer be required to buy health insurance and will have many options available to them if they choose to buy a plan. The Trump administration plans to modify laws that prevent the sale of health insurance across state lines so that there is more competition in the market, and insurance costs go down as a result.
Deduct Health Insurance Premiums
Under the Trump Administration, those who do make the effort to purchase health insurance can deduct the full cost of their premium payments from their tax returns. Since health insurance will be an expense rather than a requirement, many Americans will be able to save money just for investing in their health.
Price Transparency from Healthcare Providers
The cost of procedures, treatments and other medical costs are never easy to calculate. New laws will require price transparency from all healthcare organizations and doctors. This way, individuals will be able to shop around for the best prices for anything they need instead of having to settle for a huge bill they were unprepared for at the time of treatment.
Lower Healthcare Costs
Overall, the Trump administration plans to reduce healthcare costs for Americans with several reforms and changes. This can help you keep your monthly expenses to a minimum and also give you more options to shop around for health and medical care that you only truly need.
Learn more about healthcare trends and other economic factors that could affect your future. Contact The McIntyre Group today.