"Fixing" Obamacare

Among other changes long sought by the [insurance] industry [lobbyist group AHIP], the draft Republican proposal for a health care overhaul released on Monday would allow insurers to charge older American[s] more for their premiums and rewrite tax law to make it easier for insurance firms to pay executives even higher pay.

The new Republican legislation, called the American Health Care Act, includes sweeping changes sought by health insurance companies.

  Intercept

"American" - not "affordable".

The proposal, for instance, shifts the age ratio for premiums, allowing insurance companies to charge older Americans up to five times as much as young people. The AARP, in a letter to legislators, notes that the new 5:1 ratio could cost the average 64-year-old on a silver plan an additional $2,100 per year. Under the Affordable Care Act, the premium cap was 3:1.

AHIP specifically recommended a move to the 5:1 ratio.

[...]

[U]nder the Republican legislation, the penalty [for not having insurance] will be paid to insurance companies instead of the federal government.

Health insurers' dream plan.

But wait. There's more.

Insurers, under the bill, are granted the ability to require a premium surcharge of 30 percent for any individual who loses coverage for a period of at least two months.

[...]

AHIP has written to Congress to complain about the cap on deducting executive compensation. The Ways and Means Committee draft of the Republican health overhaul provides for the elimination of the cap on the first page of the bill.

[...]

Before the Affordable Care Act, insurance company executives had little incentive not to steer company revenue to executive leadership. UnitedHealth Group chief executive Stephen Hemsley received $109 million in pay in 2009 alone.

The Republican health legislation repeals the Affordable Care Act’s cap. “The Republican plan calls for allowing insurers to write off as a business expense the entire amount of their executives’ salaries on their taxes, and not just the first $500,000, as is the case now under the Affordable Care Act,” CNBC reported. Taking away the limit on corporate pay tax deductions will not only encourage higher executive pay, but will mean companies will pay way less in taxes.

Make American Great Again.

...but hey, do what you want...you will anyway.