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5/19, 10:27 PM (Source: TeleTrader.com)
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Report: Trump to end key Obamacare subsidies

United States President Donald Trump has told his advisers that he wants to abolish payments to key Obamacare subsidies, Politico reported on Friday, citing sources familiar with the conversations.

Most advisers have opposed the move on the grounds that it would backfire politically if people lose their insurance or have to endure huge premium spikes, eventually blaming it on the White House, sources revealed. Trump, on the other hand, insisted that taking that decision could force Democrats to negotiate a replacement for Obamacare, the report added.

American insurers have been calling for certainty on the matter as they have to continue their payments even if the federal funds are cut. Under Obamacare, around $7 billion in payments go to insurers so as to allow them to reduce deductibles and other out-of-pocket costs for some 7 million low-income consumers in the US.

TeleTrader Newsroom / IB