Washington—Senator Dianne Feinstein (D-Calif.) today released the following statement on President Trump’s decision to stop making cost-sharing reduction payments that allow health insurance companies to reduce costs for millions of low-income families:
“Make no mistake, without congressional action, President Trump’s decision to stop reimbursing insurance companies for the cost of reducing co-pays for low-income enrollees will break individual insurance markets across the country.
“The Trump administration is forcing Americans who don’t receive financial help to pay up to 25 percent more for their health insurance. It’s appalling that the president of the United States would intentionally hurt millions of people to send a political message.
“To add insult to injury, costs to the federal government will actually increase as a result of this action. The federal government would spend $2.3 billion more next year alone because the federal government will have to spend more on tax-credit subsidies.
“Congress must act as soon as possible to approve these payments to minimize the harm to millions of people, and I strongly support the efforts of Senators Alexander and Murray to craft bipartisan legislation to strengthen the individual market.”