In his unending effort to dismantle the Affordable Care Act—President Barack Obama‘s signature legislation—Donald Trump on Thursday signed an executive order that effectively begins the long process of repealing and replacing the hard-won measure.
Here are three things to know:
1.The Affordable Care Act is still the law
The executive order, not buttressed by law, stops about $7 billion in subsidies or scheduled payments to insurance companies that help lower deductibles for low-income customers, according to The New York Times.
2. People Of Color will be most impacted by the order
While it’s unclear how the measure will shake out, people of color gained health care coverage after the passage of the Affordable Care Act. For Hispanics, the uninsured rate dropped from 41.8 percent to 30.3 percent. For African Americans, the uninsured rate dropped from 22.4 percent to 12.1 percent, according to Talking Points Memo. The biggest risk is for consumers, who buy their own insurance, according to The New York Times: “[i]nsurance companies, faced with the news about the subsidies going away, will drop out of the market for next year. Their contracts allow them an out if subsidy policy changes.”
3.What it means for Medicaid recipients
None of these changes directly affect Medicaid recipients, according to The Times.
Consumers will know more about the effects of the order within weeks, The Times writes, but changes “are unlikely to be completed before the end of the year.”
Click here to find out more about the impact of the executive order
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Trump Weakens Obamacare: 3 Things Black Folks Need To Know was originally published on newsone.com