Half-baked' GOP healthcare gambit exposed as scheme to enrich insurance giants

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Half-baked’ GOP healthcare gambit exposed as scheme to enrich insurance giants - Rawstory

Donald Trump and his Republican allies in Congress have made a show of criticizing insurance company greed as they stand firm against extending Affordable Care Act tax credits and offer ill-formed alternatives.

But a report published Wednesday by the office of Sen. Ron Wyden (D-Ore.) explains how a scheme endorsed by Trump and some top Republicans would further enrich insurance giants and big banks.

The report focuses on growing GOP support for a proposal that would give Americans money in tax-advantaged vehicles such as health savings accounts (HSAs) to help cover out-of-pocket costs. Last week, Trump championed the idea in the Oval Office, characterizing the proposal as a way to “forget this Obamacare madness.”

But Wyden’s report argues that “no matter how Republicans design their plan, their promise to take money out of the hands of big insurance companies and put it in the hands of patients will go unfulfilled, because the very arrangements they tout are administered by large financial institutions and the same big insurance companies.”