Jun 23, 2017

The winners and losers of the Senate health bill

Rebecca Zisser / Axios

The health care bill Senate Republicans unveiled yesterday would not replace the Affordable Care Act. It would replace Medicaid.

With the notable exception of the individual mandate, the most fundamental changes the ACA made to the health care system — the exchanges, the federal government's role in subsidizing individual premiums, and some level of benefit mandates — would endure. But the Senate bill would repurpose those same tools to reverse the flow of costs and benefits. It would use the same means to a different end.

Every health care policy comes with trade-offs. Everything has winners and losers.

  • The biggest winners under the GOP bill would be young people who don't use much health care — the "losers" under the ACA. Those consumers would no longer face a penalty for going uninsured. They'd get bigger subsidies than they're getting now. And the broader shifts in the healthcare market would favor people who don't need to use it.
  • The losers, broadly, are older consumers and the poor. Although the bill phases in its Medicaid cuts more slowly than its House counterpart, once they took effect, the Senate's cuts would be deeper. And in the individual insurance market, older consumers would see their financial assistance shrink.

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Photo Illustration: Sarah Grillo/Axios. Photo: Chris Graythen/Getty Images

Donald Trump loves Wall Street shenanigans. Companies owned by him have declared bankruptcy six different times, and he was once sued alongside Mike Milken for participating in a scheme to artificially inflate junk-bond prices.

Driving the news: Trump pardoned Milken this week, with an official statement positively gushing over Milken's role in developing the wilder side of fixed-income capital markets.

Situational awareness

Photo: Win McNamee/Getty Images

Catch up on today's biggest news:

  1. Roger Stone sentenced to 40 months in prison
  2. Top NSC official reassigned to Energy Department amid "Anonymous" fallout
  3. Morgan Stanley to buy E*Trade in $13 billion deal
  4. Coronavirus slams companies' 2020 sales projections
  5. Black activist group gives its first presidential endorsement to Elizabeth Warren

Coronavirus kills 2 Diamond Princess passengers and South Korea sees first death

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. U.S. numbers include Americans extracted from Princess Cruise ship.

Two elderly Diamond Princess passengers have been killed by the novel coronavirus — the first deaths confirmed among the more than 600 infected aboard the cruise ship. South Korea also announced its first death Thursday.

The big picture: COVID-19 has now killed more than 2,100 people and infected over 75,000 others, mostly in mainland China, where the National Health Commission announced 114 new deaths since Wednesday.

Go deeperArrowUpdated 1 hour ago - Health