Affordable Care Act

Updated at 4:06 p.m. ET

A proposal in the Senate to help stabilize Affordable Care Act marketplaces would ensure that subsidies paid to insurance companies benefit consumers rather than padding the companies' profits.

Updated at 12:15 p.m. ET

Less than a week after President Trump said he is cutting off subsidies to health insurance companies, lawmakers announced Tuesday that they had a deal to restore the money and take other actions that could stabilize insurance markets for next year.

Ryland Barton

  Kentucky Attorney General Andy Beshear says he plans to sue President Donald Trump over his plan to repeal subsidies that help people afford health insurance under Obamacare.

Updated at 11:40 p.m. ET

The Trump administration said Thursday that it would end the Affordable Care Act's cost-sharing reduction payments designed to help low-income Americans get health care. Not paying the subsidies, health care experts have warned, could send the health insurance exchanges into turmoil.

President Trump signed an executive order Thursday that is intended to provide more options for people shopping for health insurance. The president invoked his power of the pen after repeated Republican efforts to repeal the Affordable Care Act, also known as Obamacare, have failed.

"The competition will be staggering," Trump said. "Insurance companies will be fighting to get every single person signed up. And you will be, hopefully, negotiating, negotiating, negotiating. And you will get such low prices for such great care."

J. Tyler Franklin/WFPL News

U.S. Senator Rand Paul of Kentucky appears to have notched a victory in the health care debate in Washington. 

Now that the latest GOP health care proposal is being left for dead, you might think that health care reform efforts are over for the near future. But don't dismiss bipartisan efforts already underway that aim to stabilize the insurance market and potentially give states more flexibility in meeting federal standards.

Republicans officially pulled the plug on their last-ditch effort to repeal and replace the Affordable Care Act on Tuesday.

"We don't have the votes," said Sen. Bill Cassidy, R-La., after a closed-door meeting of Senate Republicans. "And since we don't have the votes, we've made the decision to postpone the vote." Cassidy, along with Sen. Lindsey Graham, R-S.C., put together the proposal they hoped could pass the Senate.

Updated at 3:35 p.m. ET

Republicans are once again waving the white flag on health care.

Senate Majority Leader Mitch McConnell announced that he is pulling the Republican health care bill because it does not have the votes.

Rather than endure another embarrassing vote that sees his caucus come up short, the senators agreed in a closed-door meeting to shelve the bill.

The proposal the Senate is considering that would repeal and replace the Affordable Care Act would result in millions losing health insurance and a $133 billion reduction in the deficit by 2026, according to the Congressional Budget Office's report on the Graham-Cassidy legislation.

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