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Trump Ends ObamaCare Insurance Subsidies For Low-Income Customers

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On Thursday night, the White House said it cannot lawfully make subsidy payments to insurers who rely on funding to reduce out-of-pocket costs for low-income ObamaCare customers. The subsidies are paid monthly, and are estimated to be worth $7 billion this year. Under the law, insurers must provide cheaper rates to members even if they no longer receive federal funding. Over the last several months, Trump has threatened to cut off the payments, which he called a “bailout” for insurance companies. The Department of Health and Human Services said it will cease paying the cost-sharing subsidies immediately.

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