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Trump's latest Obamacare killer will cost Uncle Sam $194 billion

The move could mean the US govt will end up spending almost $200 bn more on health insurance

Zachary Tracer | Bloomberg 

President Donald Trump is halting some Obamacare subsidies. The move could mean that the government will end up spending almost $200 billion more on health insurance. Here’s why: The subsidies clamped by Trump, known as cost-sharing reductions, are paid to insurers, reimbursing them for lowering deductibles and other out-of-pocket costs for low-income people. If the funds vanish, insurers will make up for them by boosting the cost of health coverage for everyone. Many had already said they will charge more for plans next year, on the expectation that the administration would ...

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First Published: Sat, October 14 2017. 01:25 IST