Trump’s New Executive Order Would Mean Cheaper Insurance Premiums

The executive order President Donald Trump is expected to sign this week would enable people to purchase cheaper health insurance policies. The order on ObamaCare would also loosen regulations, though precise details of the measure are still unknown.

“I will be signing something probably this week which is going to go a long way to take care of people that have been so badly hurt on health care,” Trump announced prior to a meeting with the former secretary of state, Henry Kissinger. He added that this would not cost the U.S. anything.

After not succeeding in his attempts to repeal the Affordable Care Act, Trump declared last month that he would take executive action to alter certain aspects of the law he considers to be a failure.

The order would make it possible for people to buy insurance from various competitors across state lines, thus driving down prices, as well as to get short-term insurance for longer than they were allowed under the Obama administration. Furthermore, Trump will call on the Department of Labor, Treasury and Health and Human Services to change regulations so that several small employers could band together and buy group coverage.

Another change that would be introduced by the order is the possibility for associations to set rates on the basis of group members’ medical history or deny coverage altogether. That means younger or healthier members would pay lower premiums.

Opponents, on the other hand, claim the greater access to health insurance plans would only lead to a drop in insurers applying to participate in Obamacare exchanges, which in turn would only increase the rates of policies sold there.

Association health plan policies would not have to every Obamacare provision leading to more meager coverage.

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