The GOP tax bill ended the individual mandate that required Americans to have insurance. A new analysis of its impact predicts many Hoosiers may opt out. It also takes a look at other ways Hoosiers health care may be effected because of the tax law.
Americans for Tax Fairness, a coalition of non-profits, prepared the report. It predicts tax bill spending cuts and changes in the Affordable Care Act will motivate many to drop their health insurance.
The report predicts more than 240,000 Hoosiers will opt out of insurance by 2025.
Healthcare advocate and Faith In Indiana leader, Fran Quigley says big tax cuts benefit drug and health insurance companies.
"We essentially give them the keys to the vault of taxpayer dollars and they take billions and billions of dollars and all this tax bill dose is reward them for it," says Quigley.
Quigley says the Trump administration passed the tax cuts without a way to pay for them.
"Someone’s got to pay for the $1.5 trillion in revenue that’s not there and what this report shows is what we feared is coming true is that the people who are going to be asked to pay for that are working people, the people who need health care," says Quigley.
The paper suggests cuts to social programs including Medicare, disability and SNAP could be used to pay for the new tax cuts.