President Trump on Sunday said he hopes that an alternative to the Affordable Care Act, colloquially known as Obamacare, will be developed by Jan. 30, 2026.
The signature element of that alternative, which the president mentioned earlier in November, will be to replace the subsidies that currently go to health insurers with those funds instead going into accounts for individuals to buy health insurance.
Appearing on “The Brian Kilmeade Show” on Fox News Radio Friday morning, Trump called the ACA the “Unaffordable Care Act,” adding that with his plan, “you’d get better health insurance and save a lot of money.”
The president noted that he believes he has bipartisan support for his plan, adding that Republicans Sens. Katie Britt (Ala.) and Rick Scott (Fla.) are spearheading the effort.
One of the key sticking points of the recently ended federal government shutdown was the insistence by Democrats that ACA subsidies as they are currently remain for 2026, instead of lowering them to pre COVID-19 pandemic levels as Republicans support. If the subsidies go down, premiums for individuals on health insurance exchanges are set to rise dramatically.
Dear readers: We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion.