iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
17,084 Blog Posts

Trump is Going to Kill Obamacare and There is Nothing You Can Do About It

FLASH IMPORTANCE: My book is now available in print. Collectors item!

I’m very sorry for all of you, including Jimmy Kimmel, who rely upon Obamacare for their insurance needs. Truth is, we live in an evil country that would prefer to sacrifice its citizens in satanic rituals than help them recover from the flu. While some of these things are distasteful, they’re also extremely out of my reach of control. I am merely a spectator in all of this. I do not care if Obamacare lives or dies. I would prefer that the insurance and drug rackets be punished to hell via rigorous restrictions on profits. A friend of mine, who is a consultant in the healthcare industry, told me that 90% of the expenses are, in fact, real estate related.

How absurd is that?

Politico is reporting tonight that Trump might sever subsidy payments to insurers that will expedite the death of Obamacare — which is hopping and running towards the exit.

President Donald Trump plans to cut subsidy payments to insurers in his most aggressive move yet to undermine Obamacare after months of unsuccessful repeal efforts on Capitol Hill, according to two sources.

The subsidies, which are worth an estimated $7 billion this year and are paid out in monthly installments, may stop almost immediately since Congress hasn’t appropriated funding for the program.

Scrapping the funding is likely to provide another jolt to the already fragile Obamacare markets. The impact may be cushioned by the fact that many insurers had priced next year’s plans higher than they otherwise would have, fearing this decision. Others have already fled the Obamacare markets, which are set to begin open enrollment in Nov. 1 for the 2018 plan year.

Insurers rely on the subsidies to reduce out-of-pocket costs for low-income Obamacare customers. They’re still on the hook to provide the discounted rates to their members under the law, despite no longer receiving the federal funding.

Trump has threatened for months to cut off the payments, deriding them as a “bailout” for insurers. While Republican lawmakers complained the subsidies were never properly appropriated by Congress, many were wary of ending them suddenly.

Failed Obamacare repeal packages considered by the House and Senate, H.R. 1628, included near-term funding for the program, which had been paid out through the executive branch each month.

The announcement, expected to be made Friday, may also put more pressure on a bipartisan effort in the Senate’s health committee to preserve the subsidies to shore up Obamacare marketplaces.

The Trump administration will also likely drop an appeal of a lawsuit contesting the legality of the payments, known as cost-sharing reductions. However, a group of Democratic state attorneys general will continue fighting in court to preserve the payments.

Some insurers are also likely sue the Trump administration over the failure to make payments that they believe they’re entitled to under the Affordable Care Act.

Trump has argued that Democrats will take the blame if the markets implode, but polling strongly suggests the public will point the finger at Republicans for Obamacare problems under Trump’s watch.

My feelings on this transaction is irrelevant, as are yours. What is relevant, however, is the way we might profit from it.

Might I interest you in a little HIIQ?

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11 comments

  1. cancel19

    I already started a position in $HIIQ two days ago in my IRA.

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  2. sarcrilege

    I know Trump twats about it but the question is if DJT will be allowed to sign an executive order to sever subsidy payments to insurers. That’s the catch.

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  3. ironbird

    The Quickening is here. The Orange one is going to do everything he said. That Wart Hog Pig from Hollywood. Only the first of the take down of all Libtard filth. No accident. It is war now. Like the pick.

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  4. doji

    Just grateful that I don’t live in Murrika. All of this leads back to only one thing, Russians.

    Trump got nailed under Obama’s watch and for that he is going to trash his legacy, fuck the American people. The more cornered he is over Russia Gate, the more dangerous he will become. War is imminent I would guess.

    Fly, time to release the Golden Showers video yet?

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  5. ironturd

    How’s the record on Trump bets the past year been for you? Gotta cover all the uvxy yang fizz faz etc etc losses. Your schadenfraude for the soon to be uninsured is pathetic.

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  6. TJWP

    “Muh uninsured” – imagine having to suffer the consequences of eating yourself into type II diabetes. Your anguished whining is fuel for the TrumpTrain™

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    • ironturd

      Is the TrumpTrain what you call the line of aryan cocks pummeling your face while you smile with glee? Muh your American Dream University degree and extra faggot ninja avatar.

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  7. heads up

    With a 12k deductible and 13k in premiums I am already uninsured for most anything but maybe radiation poisoning from Kim’s missile.

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