The nation’s doctors and hospitals are bracing for an increase in unpaid medical bills after President Trump’s decision to stop funding subsidies that low-income Americans use to pay their out-of-pocket costs.
Bruce Japsen explains:
Trump’s decision comes just before the beginning of open enrollment on Nov. 1 for subsidized individual coverage sold on public exchanges for 2018 under the Affordable Care Act. Cost-sharing reductions (CSRs) help purchasers of subsidized silver plans pay their co-payments and deductibles.
“Hospitals should see rising bad debt in 2018 as these co-pays/deductibles go unfunded ,” said Sheryl Skolnick, healthcare analyst for Mizuho Securities USA.Trump’s move also comes with Americans, beyond just those in Obamacare plans, already seeing a jump in their out-of-pocket healthcare costs. Employee benefits consultancy Aon says out-of-pocket costs for workers at large employers will, for the first time in 2018, eclipse $2,500, and that trend has impacted providers.
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