Mr. President, I would like to read a few headlines from the past couple of weeks. From the Detroit Free Press: ``ObamaCare rates in Michigan could skyrocket as much as 31 percent in 2018.'' This is from the Associated Press: ``New Mexico…
Mr. President, I would like to read a few headlines from the past couple of weeks.
From the Detroit Free Press: ``ObamaCare rates in Michigan could skyrocket as much as 31 percent in 2018.''
This is from the Associated Press: ``New Mexico health insurer proposes 80 percent premium hike.''
From the Washington Examiner: ``CMS: 47 counties won't have ObamaCare coverage in 2018.''
From Bloomberg: ``Anthem to Leave ObamaCare Markets in Indiana and Wisconsin.''
From the Washington Free Beacon: ``Last Insurer in Delaware Requests Rate Hike of 33.6 Percent for 2018.''
These headlines should probably be shocking--an 80-percent premium increase; 47 counties without an insurer--but they are not. Insurers leaving the market, huge premium hikes, lack of coverage--that is par for the course for ObamaCare. Unfortunately, too many Americans have gotten used to those types of headlines. I have lost count how many times I have come down to the floor to read similar headlines.
While these headlines may not be shocking anymore, they are still disturbing. Behind these stories are tens of thousands of struggling Americans who can no longer afford the ObamaCare premiums, Americans who are losing their healthcare plan again, Americans who are worried they won't have any coverage options at all for 2018. ObamaCare may have been well-intentioned, but good intentions are not enough.
ObamaCare was fatally flawed from the beginning, and it is rapidly imploding. We can do one of two things: We can just wait around for the exchanges
to collapse completely, as our colleagues across the aisle seem inclined to do, or we can act. Sitting around waiting for the exchanges to collapse might be the easier path, but we can't do much good for the American people if we are sitting on the bench and watching.
Republicans promised the American people that we would rescue them from the burdens of ObamaCare, and we intend to keep that promise. Last week, Senate Republicans released legislation to start undoing the damage caused by ObamaCare. It is called the Better Care Reconciliation Act.
To start with, our bill provides relief to individuals and families by repealing ObamaCare's burdensome individual and employer mandates. Under our legislation, Americans will no longer be forced to buy insurance they don't want or can't afford. Employers will no longer be faced with the choice of reducing worker hours or not hiring more employees simply to avoid the Federal Government's heavy hand.
Our bill also repeals the burdensome ObamaCare taxes. Taxes have consequences. When you raise taxes on everything from lifesaving medical devices, such as pacemakers, to health insurance itself, which ObamaCare did, it is no surprise that these things get less affordable. Our goal with this bill is to make healthcare more affordable and more accessible for all Americans. Repealing ObamaCare taxes is one part of that.
Stabilizing the rapidly collapsing ObamaCare markets is another part. Premiums on the exchanges are spiraling out of control, and insurers are fleeing the marketplace. The Better Care Act will help stabilize the markets and check premium increases.
The Better Care Act provides funding to help States implement solutions to help make healthcare more affordable for their low-income and high-risk residents.
Giving States flexibility was an important priority for us in drafting the Better Care Act. ObamaCare, of course, took the opposite approach, attempting to impose a one-size-fits-all solution on every State in the Union. But the problem with that is that it is pretty much impossible for a massive Federal bureaucracy to hand down one comprehensive solution that will somehow meet the needs of everyone in this country, not to mention that top-down, one-size-fits-all solutions are seldom the most efficient or affordable. Bureaucracy costs money, after all.
Our goal in drafting the Better Care Act was to make sure the States had the flexibility to address the needs of their specific populations. So we provide a State innovation fund to help them meet the particular needs of their residents. We also empower States by simplifying the waiver process by which they can seek relief from some of ObamaCare's demands and by allowing them to encourage a greater variety of healthcare solutions. We give States more flexibility when it comes to meeting the needs of their residents who rely on Medicaid.
In addition to giving States the flexibility to design affordable healthcare solutions and to encourage innovation, our bill also provides help directly to Americans who are most in need. The Better Care Act provides advanceable and refundable tax credits to Americans making from zero to 350 percent of the Federal poverty level. The credits are adjusted to ensure that those in the most need get the most help.
Among other things, these credits will provide help to low-income Americans around the country who currently receive no healthcare assistance. In many States, thousands of Americans are unable to qualify for Medicaid but don't earn enough to get ObamaCare subsidies. That leaves these families with no assistance when it comes to purchasing health insurance. The Better Care Act fixes this.
The Wall Street Journal reports: ``The Senate bill would extend eligibility for premium subsidies to about 2.6 million more adults with income below the federal poverty line, according to estimates from the Kaiser Family Foundation.''
Since ObamaCare became law, I have heard from so many South Dakotans struggling under the law's mandates and the massive healthcare costs it has imposed. This bill is going to bring them relief. No more ObamaCare mandates, protection for those with preexisting conditions, more affordable premiums, a more stable insurance market, assistance for low-income families, more flexibility to contribute to health savings accounts, increased flexibility for States to meet the needs of their Medicaid populations, more funding for hospitals that provide care to low-income South Dakotans, relief from ObamaCare taxes and, for the first time ever, 37,000 South Dakotans living below 100 percent of the poverty level will have assistance in getting health insurance on the individual market. This bill will give South Dakotans and all Americans access to better and more affordable healthcare.
The Better Care Act is the product of weeks of dialogue and collaboration among the Members of our conference, and I am particularly grateful to Senators Alexander, Enzi, and Hatch, who have helped provide outstanding leadership throughout this process.
As I said earlier, Republicans made the American people a promise. We promised we would provide relief to the millions of Americans suffering under ObamaCare, and this bill delivers on that promise. I hope we will have the opportunity soon to vote for this legislation because it is time to give the American people access to real healthcare reform.
I yield the floor.
I suggest the absence of a quorum.