US President Donald Trump will stop subsidy payments to health insurance companies that help low-income patients, the White House said Thursday night.
This is by far the most drastic move to end the Obamacare program.
“Based on guidance from the Department of Justice, the Department of Health and Human Services has concluded that there is no appropriation for cost-sharing reduction payments to insurance companies under Obamacare,” the White House said in a statement.
The cost-sharing reduction subsidies or CSRs, worth an estimated $7 billion this year, are made directly to insurance companies to help cover out-of-pocket medical expenses for low-income Americans under Obamacare.