How To Guide For: A Look At The Big Changes Under Tom Price’s Obamacare Replacement Plan

Representative Tom Price was just tapped by President-elect Donald Trump on Tuesday to head the Department of Health and Human Services. A Republican with a plan to simultaneously repeal and replace Obamacare. His focus is on dismantling Obamacare. Now that Price has been tapped for this role he will be in a position to

help shape the emerging Obamacare replacement legislation. Price is offering to replace Obamacare with the Empowering Patients First Act. So here are some of the big changes under Tom Price's Obamacare Replacement Plan. First Obamacare would be scrapped, including the government-run insurance markets in every state, the mandates on individuals and businesses and federal tax credits to subsidize the insurance of lower income Americans. Price’s plan instead would offer fixed tax credits. Also Tom Price would seek expanded use of health savings accounts to allow people to save income before taxes to pay for future health care needs. One twist under Price’s approach is that people who are currently covered by Medicare, the Veterans Affairs Department or some other government health program could contribute to health savings accounts to help cover their premiums and copayments. Price would also likely rile businesses by imposing a cap on the amount of money that companies could deduct from their taxes to cover the cost of providing health insurance to their workers. Price would repeal the expanded Medicaid coverage in 32 states and the District of Columbia for able-bodied single people and leave those current beneficiaries to fend for themselves on the open market, using other tax credits and benefits. The Price proposals would foster an insurance market very welcoming to young, healthy and financially self-sufficient people but hostile to sicker and older people. To get more in depth information on the big changes under Tom Price's Obamacare Replacement Plan click on the pictures below to read the articles.