Will people who sign up for ACA in the final months of 2016 still have coverage if Donald Trump repeals in the early days of his presidency? originally appeared on Quora - the knowledge sharing network where compelling questions are answered by people with unique insights.
Answer by Jennifer Fitzgerald, CEO and Co-Founder of PolicyGenius, on Quora.
Will people who sign up for ACA in the final months of 2016 still have coverage if Donald Trump repeals in the early days of his presidency? In short - yes.
There's going to be a transition period between the ACA and whatever will replace it. Insurers have filed with state regulators. People have bought plans and are qualifying for tax subsidies. Open enrollment will have been in effect for nearly three months before Donald Trump is inaugurated. People who have bought health insurance, or will buy it during open enrollment, are safe - those plans are contractually locked in for the 2017 calendar year. It'll be at least 2018 until an Obamacare replacement (or modification) is in place, and recent reports suggest that Republicans may push the actual replacement even further out (until after midterm elections). We've been completely confident telling our customers that if you're shopping, stay the course.
In fact, the potential changes to health insurance can be seen as more reason to sign up now. The truth is that we don't know what changes the Trump Administration will bring to health insurance. We have some idea based on Trump's stated policy platforms, Paul Ryan's Better Way plan, and Tom Price's proposed legislation - tax credits, premium deductions, health savings account expansion - but the final replacement has yet to be seen. And there are a lot of unknowns, like which of the ten essential benefits will be covered or if consumer protections like nondiscrimination for pre-existing conditions will stay in place.
Regardless of how you feel about Obamacare, you know what it covers and what it costs. It's a sort of "the devil you know..." situation. Buying health insurance now while you're still sure of what it means for you, and maybe moving up any procedures you were thinking of putting off, ensures that you avoid unexpected surprises down the line.
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