President Trump’s first 100 days may be over, but on Thursday he celebrated his first presidential victory. Republicans in the House of Representatives voted to repeal Obamacare, officially known as the Affordable Care Act, which will make significant changes in the country’s healthcare system.
The vote resulted in 217 Republican lawmakers backing the GOP healthcare bill. 20 Republicans opposed it as well as all House Democrats. Now, the bill will go to the Senate where it will face challenges between conservative and moderate Republicans.
“This is a great plan. I actually think it will get even better. This is a repeal and replace of Obamacare. Make no mistake about it,” said President Trump at a celebration for the vote.
“This has really brought the Republican Party together. As far as I’m concerned, your premiums are going to come down.”
Even though House Democrats were not able to stop the vote to repeal former President Obama’s most celebrated bill, they believe the vote will cause many Republicans in the House of Representatives to lose their seats come midterm elections in November 2018. The Democrats could be heard singing, “nah nah nah nah hey hey hey goodbye” to the Republicans who voted for the new healthcare bill.
Now that it’s looking like the GOP healthcare bill may come into law, these are some of the things you should know about it. It will eliminate Obamacare taxes on the wealthy, insurers and others. Instead of the Obamacare subsidies that are tied to income and premiums, the GOP plan would provide Americans with refundable tax credits based mainly on age to purchase health insurance. The GOP healthcare bill will also give insurers the right charge higher premiums to people in their 50s and early 60s. Other key components consist of insurers being able to charge higher premiums to those with medical issues if they let their coverage lapse.
However, the GOP bill does keep one major component of Obamacare, which is allowing children to stay on their parents’ insurance until they are 26.
As many can imagine, this vote is going over well with many who have pre-existing conditions and are at risk of losing their health insurance. Next year’s midterm elections will be telling.