Obama never saw this one coming; Trump enlists most libertarian US senator to undo the legacy of the most liberal US president …
(Washington Examiner) Last week, Donald Trump announced a new executive order that has the potential to radically transform the individual health insurance marketplace and give millions of Americans access to high-quality, low-cost health insurance.
The executive order, which was crafted with the help of Sen. Rand Paul, R-Ky., will empower individuals and small businesses in associations to purchase health insurance plans across state lines, potentially providing millions of people with access to cheaper, high-quality health insurance policies.
Greater access to affordable health plans
The executive order will also:
- help increase access to health reimbursement arrangements;
- expand short-term, limited-duration insurance;
- and require the secretaries of Treasury and Labor and the Federal Trade Commission to report to the president within 180 days on laws, regulations, and policies that hamper healthcare competition and choices, as well as provide potential solutions.
While all these policies will help consumers in the individual market have greater access to cheaper health insurance, the expansion of association health plans could be the most important.
If fully taken advantage of, association health plans could have a substantial positive impact on the lives of millions of people, especially the 28 million people forced to get their insurance through an Obamacare exchange.
Thanks to Trump and Paul’s policy change, individuals and businesses can join or create associations that can purchase health insurance as a group across state lines, just as large corporations do now.
This provides two extremely important advantages.
First, by allowing groups to purchase health insurance plans across state lines, there could be more options available, and health insurance companies in states that allow AHPs will have to compete with one another to provide the best plans possible.
Second, by allowing people to buy insurance in groups, some of which could have millions of members, consumers will have a lot more leverage when negotiating with insurance companies.
See the full story at Washington Examiner. Also of interest: Affordable health insurance is finally on the way – thank you, President Trump