The following is an excerpt from Eric Pianin | November 22, 2016 | thefiscaltimes.com |
The pledge by President-elect Donald Trump and congressional Republicans to swiftly repeal the Affordable Care Act -- followed by months or even years of deliberation over a replacement – is no doubt troubling news to many of the roughly 20 million Obamacare beneficiaries.
House Speaker Paul Ryan (R-WI) and Senate Majority Leader Mitch McConnell (R-KY) have vowed to jam through legislation as early as January to dismantle the heart of President Obama’s signature 2010 health insurance program, while leaving the question of precisely how they would replace it and when that new system would be put in place unanswered.
But the GOP’s crusade to finally destroy Obamacare has the health care industry in an uproar, with strong indications that major insurers could accelerate their departure from the ACA exchanges. At the same time, hospital administrators are in a panic, fearing that they will incur massive financial losses if millions of Americans lose their health care coverage under Obamacare or expanded Medicaid.
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