Photo: Jim Watson/AFP via Getty Images

President Trump announced on Friday he will pursue an executive order requiring insurance companies to cover pre-existing conditions, something that is already law.

Why it matters: The Affordable Care Act already requires insurers to cover pre-existing conditions. The Trump administration is currently arguing in a case before the Supreme Court to strike down that very law — including its pre-existing condition protections.

The big picture: Even if this wasn’t already law, it’s unclear what authority the president has to unilaterally require insurers to cover pre-existing conditions.

What he's saying: "Over the next two weeks I'll be pursuing a major executive order requiring health insurance companies to cover all pre-existing conditions for all customers," the president said.

  • "That's a big thing. I've always been very strongly in favor. We have to cover pre-existing conditions so we will be pursuing a major executive order requiring health insurance companies to cover all pre-existing conditions for all of its customers. This has never been done before."

The bottom line: It has been done before — in the exact law Trump is trying to overturn.

Go deeper

Exclusive: $1 billion-plus riot damage is most expensive in insurance history

Reproduced from Insurance Information Institute; Table: Axios Visuals

The vandalism and looting following the death of George Floyd at the hands of the Minneapolis police will cost the insurance industry more than any other violent demonstrations in recent history, Axios has learned.

Why it matters: The protests that took place in 140 U.S. cities this spring were mostly peaceful, but the arson, vandalism and looting that did occur will result in at least $1 billion to $2 billion of paid insurance claims — eclipsing the record set in Los Angeles in 1992 after the acquittal of the police officers who brutalized Rodney King.

Dan Primack, author of Pro Rata
Sep 17, 2020 - Economy & Business

Scoop: Oscar Health preps 2021 IPO

Illustration: Aïda Amer/Axios

Oscar, the health insurance company co-founded in 2012 by Joshua Kushner and Mario Schlosser, has hired banks to help the firm go public in 2021, Axios has learned from multiple sources.

Background: Oscar was launched to provide health insurance to individuals under the Affordable Care Act, but has since diversified into other health insurance markets.

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 30,065,728 — Total deaths: 944,604— Total recoveries: 20,423,802Map
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 6,674,070 — Total deaths: 197,615 — Total recoveries: 2,540,334 — Total tests: 90,710,730Map
  3. Politics: Former Pence aide says she plans to vote for Joe Biden, accusing Trump of costing lives in his coronavirus response.
  4. Health: Pew: 49% of Americans would not get COVID-19 vaccine if available today Pandemic may cause cancer uptick The risks of moving too fast on a vaccine — COVID-19 racial disparities extend to health coverage losses.
  5. Business: Retail sales return to pre-coronavirus trend.