WASHINGTON (dpa-AFX) - President Donald Trump has announced that the federal government will return to the American people hundreds of millions in Obamacare overcharges, collected by the Biden Administration. He said his administration will issue refunds of $500 per person to nearly 1 million Americans in 30 states. Checks will be sent to eligible Americans beginning in October, according to the White House.
Today's actions directly refund the Americans most exposed to the higher costs imposed by the Biden Administration's gross mismanagement of Obamacare.
The Biden Administration overcharged Americans through Obamacare plan exchange 'user fees' that were passed on to consumers in the form of higher premiums, funding the operations of the federal Obamacare exchange far in excess of what was needed to run the exchange, the White House said.
As a result, the Biden Administration accumulated a significant surplus of funds that were not used to benefit the Americans who paid these higher premiums, it added.
President Trump is refunding these excess fees to Americans who do not receive premium assistance under the Unaffordable Care Act - and therefore paid the full cost of Biden's premium tax - in the 30 states that use the federal exchange for the operations of their Obamacare markets.
These states include Alabama, Alaska, Arizona, Arkansas, Delaware, Florida, Hawaii, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Montana, Nebraska, New Hampshire, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, South Dakota, Tennessee, Texas, Utah, West Virginia, Wisconsin, and Wyoming.
The White House alleged that the Biden Administration's mismanagement of Obamacare resulted in massive levels of fraud, higher costs for Americans, and profit windfalls for big health insurance companies.
President Trump is calling on Congress to enact the Great Healthcare Plan to lower drug prices, lower insurance premiums, hold big insurance companies accountable, and maximize price transparency.
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