[dropcap]D[/dropcap]efying all of the polls and pundits, Donald Trump managed to eke out a win in the 2016 U.S. Presidential election in November. Despite losing the popular vote, Trump secured a majority in the Electoral College, which has the final say in who is elected to a four-year term. Many economists, experts and even everyday voters are worried about the ramifications of a Trump presidency, with no better example of uncertainty being found than in the country’s healthcare system. Based on proposed policies and campaign promises, what can be expected to change regarding healthcare in the U.S. during a Trump presidency? Continue reading to find out more.
Repeal of “Obamacare”
President-elect Trump made the promise to repeal the Affordable Care Act a central theme of his campaign. The Affordable Care Act, passed in 2010, put the country on the road toward universal health insurance coverage. If such a repeal were to occur, there would be instant economic and healthcare-related ramifications overnight.
Hundreds of thousands who have pursued career advancement in healthcare – such as with online RN to MSN programs – will find themselves in a tough position to find work. Roughly twenty million people have since gained health insurance via ACA, meaning that almost 1 in 10 Americans would lose their insurance. Even more would lose subsidies designed to pay for private healthcare. Other provisions, such as the guarantee that pre-existing conditions cannot be used to deny coverage, would also be gone. Additionally, provisions in the bill that helped to regulate the annual increase in healthcare costs would cease to exist.
Potential End to Medicare/Medicaid
With the Republican Party controlling both the White House and both branches of Congress, they are theoretically in the position to pass any new reforms they desire. The Speaker of the House, Paul Ryan, has proposed effectively repealing the Medicare and Medicaid programs, which provide public health insurance to more than 100 million elderly, sick, poor and disabled Americans. With the ACA repeal being considered, several million current Medicaid recipients would automatically lose their coverage even if no further changes were made to the Medicare/Medicaid system. The proposal by Speaker Ryan to eliminate Medicare/Medicaid includes an alternative solution. Instead of receiving public healthcare, individuals would be given a voucher that covers some of the cost of insurance, which would be used to purchase private insurance on the market.
Private Insurance Companies Would Be Hit
Even private healthcare insurance companies could be affected by the proposed changes of President-elect Trump. With the passage of the ACA, private insurers gained millions of new customers who they would have never otherwise obtained. With healthcare reform repealed, the majority of these individuals would no longer be able to afford health insurance, causing losses to the insurers. Those with degrees in everything from MSN administration to business who work in this field would likely be impacted, as the number of needed employees within each company would be reduced.
Uncertainty looms over the future of the healthcare system in the United States with the election of Donald Trump. From the Affordable Care Act to Medicare and private insurance companies, there is plenty of concern and speculation as to what will unfold.