That is a great question! Let's assume for a second that Mr. Trump (or someone from his party) becomes our next President. We all know that his party was never much in favor of Obamacare, (even though many, like Ted Cruz, have it) and would like to see it thrown out. Doing so, however poses a couple of challenges.
The first is that there are millions of voters who received health insurance for the first time because of the Act. These folks might not take kindly to threats of removing the care they are finally being able to get. Unless there is a well thought out plan to allow them to keep their newly-gained insurance and health care services, (which to my knowledge no candidate had laid out, or even suggested exists), there is a fair chance they vote against the party that suggests taking that care away.
The second is that their main points of attack have been upheld by two separate Supreme Court rulings. That would require some serious rewriting of the Act to enable changes to pass Congress, and at this juncture, it appears that Congress, and the party of Mr. Trump, are so dysfunctional that they couldn't pass go, let alone a finely crafted bill that would require a majority on one page.
That said, I certainly believe that there will be attempts to change how it's funded (though it has actually saved money overall, and lowered costs) because we seem to have a Government that favors those who have a lot already, at the expense of those with little. Whether those attempts pass will be decided by how the Congress is made up after the election. The President alone can not pass anything on his own, or make changes, so it will be up to Congress to decide. If this is a concern for you, I would highly advise that you take the opportunity to let your voice be heard, and speak with your vote. If you do not exercise your right to speak when it is your chance, you give away your right to complain about it later, you know? Great question, thank you for asking it!
Agent Owner, Gilmore Insurance Services, Marysville, Washington State
In all honesty the ACA or Obamacare as you call it, isn't going anywhere. It's here to stay as it has been very successful getting off the ground. It will evolve over time to fix the bugs that are in it, but going away? Nope. Here's the thing I have been an insurance agent just about 28 years. Every one of those years there was some sort of change involving health insurance, every one. The ACA is simply just another plan change.
Regardless if Donald Trump or any other candidate wins the Presidential election and promises to repeal the Affordable Care Act or Obamacare as you referred to it, it is not very likely. There are a lot of steps to repeal a law of this magnitude other than who is sitting in the White House.
Consider the Supreme Court upheld it not once but twice. It will take two thirds majority of the House and Senate to repeal a law of this size. There have been numerous health insurance companies go out of business or sell to other larger insurance companies. There is an estimated 100,000 plus health insurance agents that surrendered their licenses due to this law. To repeal it, would open the lane to lawsuits galore, not the Federal government, but many levels and agencies that can be sued.
Like it or hate it, I believe the ACA law is here to stay in one form or another.
President, Insurance Associates Agency Inc., West Chester, OH
Despite assertions to the contrary, it is entirely possible that Obamacare (AKA the ACA) could be eliminated but Trump won't have the power to make that change by himself. Many point to the Supreme Court rulings as legitimacy but they were made on narrow points of law and the power of the purse will have be an effective means of gutting the law (if that is a course chosen). More likely, the plan will be fundamentally altered. As a plan it has reached well past what most Americans consider reasonable and one of the undeniable aspects of Obamacare is the subsidy system which phases out over a period of several years. Once the subsidies die many of those who are receiving subsidized premiums will again find their insurance to be too expensive. Additionally, when the IRS begins assessing people penalties for failing to maintain coverage, attitudes will shift back towards a voluntary insurance programs. Frankly, the most logical outcome with Obamacare is significant changes to structure and subsidies and a relaxation of onerous and overbearing aspects of the law that politicians will have to consider to make it more universally acceptable among health care and the population. Maybe more importantly, some speculate that Obamacare is already in financial trouble but the real test is in seven or eight years when all the back end loading of losses will overwhelm the premiums and result in a political uproar when the actuaries insist on gigantic infusions of tax money to keep social medicine afloat.
Robert J Russell - Finalist for Broker of the Year 2015
Broker Owner, InsuranceAgentsSelling.com, United States (Most States)
Anything is possible but the question now is do they continue to insure people with pre-existing conditions or do we go back to the old days where you had to prove that you were insurable to get coverage. My guess is that they will need to revamp obamacare to make it more affordable so that insurance companies will want to be a part of it again.
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The first is that there are millions of voters who received health insurance for the first time because of the Act. These folks might not take kindly to threats of removing the care they are finally being able to get. Unless there is a well thought out plan to allow them to keep their newly-gained insurance and health care services, (which to my knowledge no candidate had laid out, or even suggested exists), there is a fair chance they vote against the party that suggests taking that care away.
The second is that their main points of attack have been upheld by two separate Supreme Court rulings. That would require some serious rewriting of the Act to enable changes to pass Congress, and at this juncture, it appears that Congress, and the party of Mr. Trump, are so dysfunctional that they couldn't pass go, let alone a finely crafted bill that would require a majority on one page.
That said, I certainly believe that there will be attempts to change how it's funded (though it has actually saved money overall, and lowered costs) because we seem to have a Government that favors those who have a lot already, at the expense of those with little. Whether those attempts pass will be decided by how the Congress is made up after the election. The President alone can not pass anything on his own, or make changes, so it will be up to Congress to decide. If this is a concern for you, I would highly advise that you take the opportunity to let your voice be heard, and speak with your vote. If you do not exercise your right to speak when it is your chance, you give away your right to complain about it later, you know? Great question, thank you for asking it!
Consider the Supreme Court upheld it not once but twice. It will take two thirds majority of the House and Senate to repeal a law of this size. There have been numerous health insurance companies go out of business or sell to other larger insurance companies. There is an estimated 100,000 plus health insurance agents that surrendered their licenses due to this law. To repeal it, would open the lane to lawsuits galore, not the Federal government, but many levels and agencies that can be sued.
Like it or hate it, I believe the ACA law is here to stay in one form or another.