President Donald Trump is throwing his support behind a Republican-backed plan that would put up to $1,500 directly into Americans’ Health Savings Accounts, letting citizens decide how to spend their money on medical needs instead of funneling it to insurance companies.
The legislation, spearheaded by Senators Bill Cassidy of Louisiana and Mike Crapo of Idaho, proposes giving $1,000 to Affordable Care Act enrollees aged 18 to 49, and $1,500 to those aged 50 to 64. Crucially, the funds would flow directly into individuals’ accounts, bypassing insurers and government programs entirely.
Speaking on Air Force One, Trump emphasized his support comes from wanting to empower Americans rather than enrich the health industry. “I like the concept. I don’t want to give the insurance companies any money,” he said. “They’ve been ripping off the public for years.”
Eligibility under the bill requires enrollees to have a bronze or catastrophic ACA plan and earn up to 700 percent of the federal poverty line — $105,420 for a single filer and $218,400 for a family of four. Those with silver, gold, or platinum plans would not receive the payouts.
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