If Donald Trump wins the White House, he’s unlikely to support renewing tax credits for Americans to buy health insurance and that’s going to hit older adults hard.
If Donald Trump wins the White House, he’s less likely to support renewing tax credits for Americans to buy health insurance and that’s going to hit older adults who buy individual Obamacare coverage the hardest, a new study shows.
There’s been record enrollment for individual coverage purchased on exchanges under the Affordable Care Act in part because the tax credits have continued and been enhanced to more Americans under the Biden-Harris administration. And that has helped such coverage, also known as Obamacare, to hit record enrollment of more than 20 million Americans this year.
But Trump, the Republican party’s nominee for president, has said he wants to get rid of the ACA and also said more recently it’s “too expensive” through he never offers solutions on how he would improve or replace the landmark legislation signed into law by President Obama in 2010. Meanwhile, Republican members of Congress have said they would try to reduce or bring an end to the tax credits, which expire next year.
The issue of Trump’s opposition to the Affordable Care Act and GOP disdain for expanding health coverage could arise during Tuesday night’s presidential debate between the former Republican president and the Democratic nominee for president, Vice President Kamala Harris, who supports the ACA and enhanced subsidies.
The so-called “enhanced premium tax credits” have reduced monthly premium payments for millions of individuals and families since 2021.
