(PatriotHeadline.com)- Obamacare premiums have dropped in price for the third consecutive years under the Trump administration. The news comes from the Centers for Medicare and Medicaid Services who showed how the average premium for the benchmark ACA plan fell be two percent for 2021.
It was also revealed how another 22 health insurers now plan to offer coverage in 2021, which will increase competition in the marketplace and potentially lower prices while increasing choice for customers.
A key component of President Donald Trump’s 2016 campaign was repealing and replacing Obamacare, and while that has not yet been achieved, the president’s success in removing the personal mandate and overseeing the project until a replacement is agreed has seen prices drop fairly dramatically.
Seema Verma, administrator for the Centers for Medicare and Medicaid Services, said that the president’s healthcare policies are the reason why prices have dropped and choice has increased.
“Bottom line – The president has delivered, lower cost and more choice,” she said. “Our changes to the regulations and how we have managed the Exchanges have proven to be more effective than previous administrations.”
Combining three years of declines in price premiums marks a total of 8% in deductions from the 2018 coverage years. The drop was even more drastic in New Hampshire, Wyoming, Maine, and Iowa, where premium prices dropped by double digits.
Maine and New Hampshire were also approved by CMS to offer state0based reinsurance programs.
While it’s good news for President Trump and Americans, more progress still needs to be made if Americans are to be able to access affordable healthcare. Breitbart reports how the average benchmark plan premium for a family of four has increased to $1,1486 in 2021 compared to just $794 in 2014. It poses a problem for those who are relying on employment-based healthcare, and an even greater problem for self-employed parents who are paying twice as much for family healthcare than previously.
In October, Verma said that the president was fighting to ensure Americans have access to good health care, but that while premium prices have stabilized, “middle-class Americans can’t afford Obamacare’s expensive premiums.”
Should President Trump be elected in November, he will move forward with the “America First Health Care Plan” that plans on providing greater patient control and choice over health care. This would include offering more short-term health insurance plans, health reimbursing plans and a reduction in the cost of prescription drugs.