Just months after the Trump administration and the GOP-controlled Congress officially ended Obama’s individual mandate requiring all Americans to face a penalty if uninsured, New Jersey is poised to reinstate the tax as healthcare costs spiral out of control.
“Governor Phil Murphy on Wednesday signed the new tax into law that will impose the tax on residents who choose not to purchase ‘qualifying’ health insurance as defined by Obama-era regulations,” writes Americans for Tax Reform.
According to the organization, nearly 80% of New Jersey households impacted by the Obamacare mandate earn under $50,000, directly harming low-income workers throughout the state who are ineligible for other programs, such as Medicaid.
“78% of New Jersey households hit by the Obamacare mandate tax make less than $50,000 per year. According to the IRS, the Obamacare mandate tax hit 188,570 New Jersey families and individuals in the most recent year of available data. 146,910 of these taxpayers made less than $50,000 per year – 78 percent of those impacted by the mandate,” says the report.
Read the full report here.
DEATH SPIRAL: Obamacare Rates SPIKE 91% in Maryland
Obamacare insurers in the state of Maryland are set to raise certain premium costs by 91% in 2019; sparking renewed calls for a major overhaul of the US healthcare system as more companies drop out of the failing healthcare exchanges.
According to Fox News, healthcare providers in Maryland are poised to raise rates by 30% on average with some plans spiking by over 90%. The news comes just days after insurers in Virginia announced double-digit hikes throughout the state.
“Maryland Obamacare insurers CareFirst, BlueCross, and BlueShield plan to raise rates for an HMO plan on the law’s exchanges by 18 percent, and 91 percent for an extended network, or PPO, plan,” writes Fox.
The “death spiral” comes just months after congressional Republicans failed to “repeal and replace” the failing healthcare law and is raising new questions over the future of the Affordable Care Act.
Senator Chuck Schumer blamed the escalating costs on the GOP’s efforts to repeal the “individual mandate” that requires individuals to purchase healthcare or face still penalties.
“Republicans know they own the skyrocketing healthcare costs, but instead of working in a bipartisan fashion to lower the costs, they actively undermined our healthcare system and made the problem worse,” said Schumer.
EMERGENCY BYPASS: President Trump Pushes ‘Low Cost’ ALTERNATIVE to OBAMACARE
President Trump pushed for a lower-cost, Obamacare relief package this week; urging GOP lawmakers to get behind his plans to offer cheaper, less comprehensive plans than those required under his predecessor’s failing healthcare law.
According to Fox News, the Trump administration pushed the revised guidelines to the nation’s largest insurance providers Tuesday, hoping “alternative plans” would help lower premiums and drive down costs in the highly regulated marketplace.
The new plan also allows insurers to raise prices to individuals who have a problematic medical history.
“We need to be opening up more affordable alternatives,” Health and Human Services Secretary Alex Azar told reporters. “It’s one step in the direction of providing Americans with alternatives that are both more affordable and more suited to individual and family circumstances.”
Senator Schumer fired-back at the GOP’s new push to help reform the Affordable Care Act, saying the Trump administration has been hoping to kill the bill “since day one.”
“Since day one, the Trump administration playbook on health care has been to sabotage the marketplaces, jack up costs and premiums for millions of middle-class Americans. Then – as a supposed life-line to a self-inflicted crisis – offering junk insurance that fails to offer protections for those with pre-existing conditions or coverage of essential health benefits and more,” said the Senate Minority Leader.