The Republican establishment has been hiding a key portion of their new health care plan that would specifically increase taxes and fees on poor and middle-class seniors across America.
There are several new reports about the health care plan supported by President Donald Trump and House Speaker Paul Ryan. One vital point that is coming to light is the fact that the health care reform plan would introduce a new “age tax” that could devastate older Americans and their families.
Ryancare, the “repeal and replace” version of the Affordable Care Act, is an attack on retirees. People will pay more and get less if this plan goes through.
… Older, less affluent Americans will pay more. That’s the trade-off. The AARP, which opposes the bill, calls this bait-and-switch an “age tax.”
“Before people even reach retirement age, big insurance companies could be allowed to charge them an age tax that adds up to thousands of dollars more per year,” stated Nancy LeaMond, AARP’s executive vice president.
The Republicans are trying to cram this legislation through, and most of the people who would be impacted by this are not even aware of it.
Luckily, some brave Democrats and even a few Republicans have been holding up the health care law in Congress. Millions of angry seniors are preparing to take action to prevent it from passing.
There’s still a chance we get stop the Republicans from getting this thing passed.
Forbes financial analyst John Wasink gives the breakdown of how Trump’s and Ryan’s new age tax would work.
- Insurers are allowed to do an “age rating” in pricing private policy premiums. The reasoning behind this is that older people generally need more expensive healthcare than younger folks, but older people are penalized.
- At present, older Americans — about 6 million people between the ages of 50 to 64 — pay three times what younger people pay in premiums. Under Ryancare, they would pay five times more.
- The AARP estimates that the pre-Medicare group would pay up to $8,400 more annually for a 64-year-old.
- Combined with scaled-back Medicaid coverage and reduced subsidies in Ryancare, “the change in structure will dramatically increase premiums for older consumers,” the AARP concluded.
The AARP – which represents more than 30 million seniors across the country – is leading the charge against the age tax.
One of their top leaders issued an angry statement aimed at Congressional Republicans this week, demanding that they protect older Americans in their health care reform plan.
Read more, via AARP.org:
“This bill, if passed in its current form, will disproportionately hurt older adults between the ages of 50 and 64 by dramatically increasing insurance premiums to unaffordable rates. Allowing insurance companies to charge older adults an Age Tax 5 times or more than others for health insurance, and reducing tax credits to help pay for it, is quite simply unfair,” AARP leaders said.