The subsidies are a type of federal payment called cost-sharing reductions, or CSRs. They amount to about $7 billion annually. Those funds are used to help lower-income people cover the costs of deductibles, copayments and other out-of-pocket expenses. The Kaiser Family Foundation estimates that they reduce annual costs for some customers by up to $3,400.
#8220;We encourage the administration and Congress to ensure that individuals have affordable, comprehensive health care coverage options and to achieve this goal without destabilizing the insurance markets for patients.#8221;
#8220;It is too early for us to know what the impact of the cut to the subsidies will be to our patients who receive their coverage through the health insurance marketplace,#8221; University Hospitals said in a statement Friday.
#8220;Our leaders closest to this discussion are traveling overseas, making it complicated to reach them,#8221; a Clinic spokeswoman said.
CLEVELAND, Ohio #8211; The decision late Thursday by President Donald Trump#8217;s administration to end cost-sharing subsidies for insurers is leaving area hospitals scrambling to determine what that means for patients locally.
Trump to stop paying insurers, putting Obamacare in limbo