With Donald Trump becoming the President of United States of America, certain changes are set to take place in ways policies were being implemented by Barack Obama.
Below are listed some of the key highlights of Obama and Trump care.
Obama care had mandated all eligible citizens to have health insurance but this individual mandate stands canceled in Trump care.
In Obama care plan, consumers were able to see pricing and coverage information in detail. Trump has also called for price transparency though the details of his plan are still to be unveiled.
In Obama care, people who earn less were eligible to get cost assistance to buy insurance on the marketplace. In trump care plan, federal subsidies to buy insurance will be based on age rather than on income.
In Obama care plan, people are only able to deduct medical expenses if the costs exceed 10 percent of the adjusted gross income of the household. However, under Trump care, people will be able to deduct medical expenses if the costs exceed 10 percent of the gross income of the household.
Health Savings Accounts
In Obama care, individuals always have the option of using Health Saving Accounts but people do not do so as they need funding and deductible health plans. These medical savings accounts will, however, be promoted under Trump care aggressively.