What to expect from the health care overhaul under President Donald Trump: The Trump administration announced a plan Tuesday to cut $831 billion in federal spending over 10 years and to end subsidies for private health insurance companies.
The president said he would use his executive authority to impose a two-year freeze on federal payments to insurers that offer subsidized private insurance to people making less than $100,000 per year.
The freeze, he said, would allow states to decide whether to let insurance companies compete for enrollees in a new national health care exchange.
The Trump plan would also limit the federal role in providing Medicare Advantage plans, which would allow beneficiaries to pay less for coverage.
Trump also called for a 30 percent reduction in the Medicare payment for prescription drugs.
He also said he wants to allow states, with bipartisan support, to decide how to spend Medicare Advantage money on care for older people.
That could allow the government to spend less on Medicaid programs for the poor, but would require a waiver from Congress.
Health and Human Services Secretary Tom Price has been trying to negotiate an agreement on Medicare Advantage funding with the Senate, which is also trying to pass a bill to fund health care.
A House Republican bill would allow insurers to raise premiums on Medicare beneficiaries without providing them with subsidies, but that provision is opposed by Democrats and would be an uphill battle.
The Congressional Budget Office has projected the cuts to be $1 trillion over 10 decades.
Trump’s announcement follows months of turmoil in the health insurance industry as companies have been scrambling to sell plans to help cover the costs of the Affordable Care Act, or ACA, a sweeping set of health insurance policies for the uninsured and the underinsured.
On Monday, Anthem Blue Cross Blue Shield announced that it would exit the market for the ACA-compliant plans it sells to individuals, employers and individuals with pre-existing conditions, after it said the market was underperforming and needed to be overhauled.
The company is expected to announce further plans for exiting the ACA market as early as Tuesday.
Trump said on Monday that the health industry should be a success story.
The ACA is a very successful program.
It is not perfect, he continued.
But it is one of the most successful and popular programs in history.
The American Health Care Act would roll back the ACA, as well as the Obama administration’s Affordable Care Acts, and repeal the Affordable Community Reinvestment Act.
The plan includes a number of major changes to the ACA and would dramatically expand the use of Medicaid and Medicare Advantage programs.
The proposal also includes a large number of tax cuts, including a proposal to increase the standard deduction to $24,000 from $12,500 and to increase income taxes on the top 5 percent of earners to 15 percent from 12 percent.
But Trump also wants to cut Medicaid spending by $880 billion over 10 months and $1.5 trillion over a decade.
Under the bill, the government would pay for the bulk of the ACA’s Medicaid expansion by phasing out funding for private insurance in 2020.
Trump called the $880-billion cut in Medicaid funding a “disaster” and said the cuts were necessary to ensure that Americans with preexisting conditions had health insurance.
Democrats have said they will fight the cuts and the president has said he plans to continue the Medicaid expansion.
But many Republicans are wary of a major cut in the program and believe it will increase the number of people without health insurance, leading to higher premiums.
Price said the administration will “continue to seek common ground with our allies and allies in the private sector” in a bid to keep the Medicaid program solvent.
The administration has not yet announced how it plans to pay for its health care plan.
The White House is also expected to issue a proposal this week on the future of the Medicaid insurance expansion, which covers an estimated 11 million low-income people.
Trump has also announced he wants the Medicare Advantage program to continue.
The expansion was designed to help the poor buy insurance that covered prescription drugs and was set up in the ACA to offer Medicare Advantage insurance to seniors.
It was created in 2010 and was designed specifically to help people with pre.
In recent years, the health sector has struggled with costs and has been under pressure from the ACA.
The Medicare Advantage expansion was created under the ACA after an initial proposal failed to pass the House in 2015.
Price on Monday said that the expansion will continue but that the administration is “not in the mood to go on forever” and is trying to find a solution that will “have the broadest appeal.”
Trump’s plan also includes $100 billion over the next decade for infrastructure projects.
In addition to new roads and bridges, Trump also plans to use his power to waive rules governing construction of water and sewer lines.
Trump is expected soon to release a plan to fund a national monument, which has been proposed by President Barack Obama.
The Antiquities Act allows presidents to declare a national park and monument,