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House Republican healthcare plan gets thumbs up from President Trump



House Republican healthcare plan gets thumbs up from President Trump

On Tuesday, after House Republicans unveiled healthcare legislation that would eliminate the requirement that most Americans obtain medical insurance and create a system of tax credits to coax people to purchase private insurance on the open market, President Trump gave his approval of a draft US House of Representatives Republican bill to repeal and replace the Obamacare healthcare law. Trump said it was open to negotiation, and added that he was working on a system to cut drug prices.

The new plan has marked a key step toward carrying out pledges by Trump and Republicans in Congress to dismantle the Obamacare law.

In his post on Twitter, Trump called the Republican draft “our wonderful new Healthcare Bill” and said that it was “now out for review and negotiation.”

Trump, who has previously called for drug prices to be lowered, added, “I am working on a new system where there will be competition in the Drug Industry. Pricing for the American people will come way down!”

His comment sent shares of drugmakers lower. Shares of Pfizer Inc and Merck & Co shed 1.1 percent, and Amgen Inc dropped 1.4 percent. In early morning trading, shares of health insurers, whose industry is anxiously awaiting any changes, yielded mixed results.

Trump also said there would be additional action to allow people to buy health insurance across state lines “in phase 2 & 3 of healthcare roll out,” although it was not immediately clear when or how that addition would come.

Former President Barack Obama’s signature domestic policy achievement, enabled about 20 million Americans who previously had no insurance to obtain medical coverage. Now, the Republican plan would do away with an expansion of the Medicaid government healthcare program for the poor that was instrumental in reducing the number of uninsured Americans. It also would remove the penalty paid by Americans without medical insurance and roll back government subsidies that helped people in the lower-income bracket to purchase insurance through government-run exchanges.

The plan was met with criticism and skepticism by Democrats from some Republicans, who were concerned about its tax credits and Medicaid provisions. House Democratic leader Nancy Pelosi said the Republican measure would take millions of people off health insurance rolls and would benefit the wealthy.

Wall Street analysts confirmed that the draft bill was within their expectations but they foresaw more negotiations regarding the Medicaid component, which could help hospitals.


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