Financial Focus: Obama care, Trumpcare & TAXES

By: Anthony Rivieccio, MBA, PFA

The House Ways and Means and Energy and Commerce committees introduced the American Health Care Act , fulfilling a campaign promise to dismantle so-called Obamacare and replace it with a measure the GOP says is more market-friendly.

The Republican led bill would eliminate the 3.8% tax on net investment income and the 0.9% tax on Social Security- both TAXES only related to high income earners.

These were the taxes that funded Obama- Care. The expenses, basically the expansion of Medicaid, will now be proposed to be radically reduced.

Trumpcare, according to reports, will be a voluntary enrollment , that for many people, will change the health care game.

While Trumpcare keeps the prior diagnosis factor and keep dependent coverage up to the age of 26 into play, it also allows more customization, through ” State Block Grants” which , on the whole, could reduce Medicaid coverage even further.

So, will new health insurance be cheaper or more expensive. I think the safe answer is both.

Market rate Insurance will always cost a bit more but Trumpcare claims they will.

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