Health Insurance Agents in Plano, Texas affected by new Trump Budget

The new proposed budget by the Trump administration could dramatically alter how Plano health insurance recipients receive treatment if passed into law.

Plano, United States - February 14, 2018 /PressCable/ —

With the release of the Trump administration’s budget, Plano Health Insurance could face dramatic changes if implemented. Details reflect a desire to convert funding for the Affordable Care Act (ACA) into block grants for states like Texas to create their own health care programs. This has been a core pillar of healthcare initiatives of the Republican party for many years.

The healthcare budget aligns with several previous proposals. In fact, the plan is very similar to the bill that Senators Lindsey Graham (R-SC) and Bill Cassidy introduced at the end of 2017. The bill which ultimately failed, included a significant reduction in Medicaid funding and overhauling Medicaid with a per-person spending cap. The budget utilizes the lowest of various available growth rates, the Consumer Price Index (CPI), which would result in a net $675 billion federal spending cut by 2028.

Consumers believe health insurance in Plano, Texas would certainly be impacted as over $1.4 trillion would be cut to Medicaid, partially offset however, by block grants. Other changes include Medicaid denied to individuals unable to show proof of citizenship; expanded asset testing (currently, income is used) to include property and belongings; and increase beneficiaries’ co-payments for improper use of the emergency rooms.

Drug expenditures would also face changes. The Trump budget would allow state Medicaid programs to create drug formularies. Formularies give preferential treatment to certain drugs over others and which private insurers use to negotiate prices with drug companies. Other changes focus on addressing cost-sharing for Plano healthcare patients- out-of-pocket maximums and rebate sharing. There is no consensus among healthcare experts whether this would lead to reduced prescription drug prices or increase profits for larger pharmaceutical companies. Rick Thornton, a Plano health insurance agent states, “Many of us in the industry recognize the need to reform drug pricing. The jury is still out whether the anticipated cost savings will be recognized by working class consumers like in Plano”.

The budget also sets aside $10 billion to address the increasing opioid crisis. Nearly 60,000 people are dying annually from overdoses. Although this appears to be a significant investment, many drug experts believe it falls short of the need especially when considering opioid abuse cost the United States over $80 billion annually.

Historically, the complete wish lists of Presidents’ budgets rarely are made into law. Trump will need Congress to approve any modifications to Medicaid. However, they are used as templates and direction for legislative policymaking. Also, the 2018 midterm elections take on greater importance as it may determine which political party will wield greater influence in shaping healthcare for 2019.

Insurance4Dallas, (I4D), helps insure all of Texas, Oklahoma, Arkansas, Arizona, Louisiana, New Mexico, Alabama, Virginia and Florida. Insurance4Dallas provides consumers with detailed information on health insurance with the ability to purchase health insurance online. Insurance4Dallas provides a full spectrum of health, dental, vision, life and ancillary insurance products, providing a diverse selection of price and benefit options complemented by personal customer service. Available via phone, email or fax, Insurance4Dallas answers consumer questions throughout the purchasing process and during the utilization of its health insurance policies.

Contact Info:
Name: Rick Thornton
Email: [email protected]
Organization: Insurance4Dallas
Address: 3000 Custer Rd , Plano, Texas 75075, United States
Phone: +1-214-501-6535

For more information, please visit http://insurance4dallas.com/plano-health-insurance/

Source: PressCable

Release ID: 301131