PHILADELPHIA (CBS) — President Trump is threatening to withhold the government subsidies that some seven-million Americans rely on to buy health insurance through the Affordable Care Act, but he’s facing opposition from an unexpected coalition of business and insurance groups.
The U.S. Chamber of Commerce is generally considered conservative, but it went to bat to preserve government subsidies for health insurance.
In a letter to the president, the Chamber, along with providers and insurance groups, laid out a dire scenario if the subsidies are not quickly guaranteed, including higher premiums that could drive people out of the market and leave millions uninsured again.
The Blue Cross Blue Shield Association was also among the signatories.
Chairman Dan Hilferty says he’s hopeful, “My thought is that cooler heads will prevail around the existing exchange program and that people who’ve been able to purchase coverage on the exchanges will be able to continue to do that,” he said. “That’s my belief but I have no inside information.”
Hilferty says insurers want guarantees soon so they can make decisions about participating in the exchanges in the fall.