"President Trump's announcement that he will immediately stop funding the Affordable Care Act cost-sharing reductions is outrageous and irresponsible. Health insurance policies were issued and premiums were set with the reasonable expectation that the President and Congress would follow the law and appropriate the funds required by the Affordable Care Act. Trump's action will immediately destabilize the health insurance market, on which millions of Americans rely for their health care coverage. Trump's action penalizes health insurers who are serving millions of Americans by selling in health insurance exchanges. Trump's action will cause more health insurers to depart markets, will cause rates to rise, and will cause more Americans to be uninsured. California is not immune to Trump's reckless and irresponsible action further sabotaging health care reform. In California, the most heavily subscribed plans (silver plans) will see an additional 12.4 percent rate increase on average in 2018 thanks to President Trump. California and other states will sue to reinstate the payments, but the President should walk back this reckless act and commit to making the ACA payments for the remainder of this year and next."
Source: CPRB
