Trump slams ObamaCare after premium hikes announced

Donald Trump jumped Monday on an announcement that ObamaCare premiums will spike by double digits next year, saying “it’s over for ObamaCare.”

{mosads}“In case you haven’t heard today’s news, it’s just been announced that Americans are going to experience yet another double-digit spike in your premium for ObamaCare, and it doesn’t work,” the Republican presidential nominee said at a rally in Tampa, Fla. 

He was referring to the announcement from the Obama administration Monday that the benchmark ObamaCare plan’s premium will increase by 25 percent in 2017. 

He also noted that because of insurers dropping out due to financial losses, about one-fifth of enrollees will have only one choice of ObamaCare insurer.

“One in 5 Americans trapped on ObamaCare will only have a single insurer to choose from, and boy are those insurers going to have a good time with you,” Trump said. 

Democrats point out that 85 percent of ObamaCare enrollees receive financial assistance under the law that cushions them from the effects of premium increases. It is the other 15 percent, who make too much to qualify for help, that Democrats acknowledge face a problem. 

Trump has called for repealing ObamaCare, but he has not put forward many specifics on his replacement. He has called for allowing insurance to be sold across state lines and for premiums to be tax deductible. 

An analysis from the Committee for a Responsible Federal Budget found his plan would cause 21 million people to lose health coverage and would provide coverage for only around 1 million. 

While the administration acknowledges that premiums are rising higher this year, it says this year is a “transition” year and that the market will continue to stabilize next year. It notes that premiums started out about 15 percent below initial projections and are now catching up. 

The premium hikes apply to the roughly 10 million people with ObamaCare coverage. 

Speaker Paul Ryan (R-Wis.) also blasted the premium hikes and touted House Republicans’ own replacement plan, called “A Better Way.”

“The president recently compared ObamaCare to a Samsung Galaxy Note 7, and he’s right: this disastrous law is blowing up,” Ryan said. “But at least you can return the phone. Families are stuck paying these higher premiums, and Democrats only want to double down on Obamacare. There is a better way.”

Democrats counter that his plan is an outline, not a detailed bill, and lacks several crucial specifics that would allow for a full analysis of how much it would cost or how many people it would cover.