The president is expected to seek the executives’ support on Republicans’ efforts to dismantle and replace the Affordable Care Act.
President Donald Trump is planning to hold a round-table meeting with health-insurance executives at the White House on Monday, according to people close to the planning, as the administration looks to encourage insurers to sign onto Republicans’ health-care overhaul efforts. The gathering is expected to focus on getting the industry leaders’ support for the GOP initiative, which would dismantle much of the Affordable Care Act and introduce several measures supported by many Republicans, including age-adjusted tax credits and expanded access to health-savings accounts.
Attendees will include chief executives of some of the biggest U.S. health insurers, like UnitedHealth Group Inc., Aetna Inc., Cigna Corp., Independence Blue Cross and BlueCross BlueShield of North Carolina.
The Affordable Care Act is expected to be a top item on their agenda. Trump has vowed to promptly repeal and replace former President Obama’s signature healthcare reform, and insurance companies have also advocated for changes to the law.
The specter of gridlock in Washington presents a risk for the surging stock market. For health insurers, gridlock might be exactly what investors need. President Donald Trump is set to hold a meeting with insurance executives on Monday. For most businesses, such meetings haven’t been a bad thing as the president talks up his pro-business policies. This meeting is more of a wild card. President Trump has made repealing and replacing the Affordable Care Act a top priority. On Friday he referred to the law as an “absolute and total catastrophe.”
Anthem Inc. and other U.S. health insurers complained to the White House for more than a year that they were losing money on people who waited to sign up for Obamacare coverage until they were sick. They pleaded with the Obama administration to stem their losses by tightening up on the enrolment rules. When their pleas went unmet, UnitedHealth Group Inc, Humana Inc, and Aetna Inc pulled out of most of the government subsidized health insurance market.