Rep. Adrian Smith Comments on Repealing Obamacare - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
November 19, 2016 Newswires
Share
Share
Post
Email

Rep. Adrian Smith Comments on Repealing Obamacare

Targeted News Service (Press Releases)

WASHINGTON, Nov. 18 -- Rep. Adrian Smith, R-Neb. (3rd CD), issued the following column:

Obamacare's open enrollment season has begun, and the news for consumers is not good. Premiums for 2017 are an average of 25 percent higher, insurers in many states have left the exchanges, and the six Obamacare co-ops still in existence continue to lose money.

President-elect Donald Trump named health care one of his top three priorities and has repeatedly called for repealing and replacing Obamacare. This will not be an easy task, and it must be undertaken carefully to allow for a smooth transition for consumers.

One of the tools available to us to repeal Obamacare is called reconciliation. Created by the Congressional Budget Act of 1974, the reconciliation process requires designated congressional committees to find a certain amount of savings within their jurisdictions by a specified date if mandated by the annual budget resolution. Once the committees submit their recommended spending cuts, the Budget Committee produces one reconciliation bill for a vote.

Only provisions which impact spending or revenue can be included in a reconciliation bill. Because many parts of Obamacare may not have a budgetary effect to qualify them for reconciliation, there are likely to be numerous provisions left intact which would have to be amended or repealed in a piecemeal manner outside this process.

In order to begin the reconciliation process, Congress must first pass a budget. We will have opportunities to pass budgets for Fiscal Years 2017 and 2018 in the new year, which also provide two avenues to pursue reconciliation.

A reconciliation bill has important advantages. It cannot be filibustered in the Senate and only needs 51 votes to pass rather than the usual 60. When Democrats forced Obamacare through Congress on a purely party-line vote, they did so by utilizing the reconciliation process. Considering Republicans may only have a 51-vote majority in the Senate next year, reconciliation presents one of the most effective avenues for repealing the law.

Earlier this year, Congress passed an Obamacare repeal bill using reconciliation and sent it to President Obama's desk, where it was unsurprisingly vetoed. However, this process did show reconciliation works - and with a Republican president in the White House in 2017, we can anticipate a much different final result.

Though it is a promising option, reconciliation is not the only avenue for repealing Obamacare. We could also repeal pieces of the law until it is dismantled in an effort to minimize potential impacts on consumers transitioning out of the exchanges. Congress and the Trump administration will need to work closely together to determine the best path forward.

Many Americans are relieved by the prospect of finally repealing Obamacare, but it is crucial we also replace this failed law with new, patient-centered policy. This year, Republicans laid the groundwork by rolling out our proposed replacement for Obamacare called A Better Way.

Our plan eliminates more than $1 trillion in health care taxes and mandates. It provides more coverage options and restores Americans' ability to make their own health care choices with their doctors. Consumers could even take their coverage with them rather than being tied to a job or state exchange to keep their insurance.

For too long, bureaucrats in Washington have dictated Americans' health care options to them. By repealing and replacing Obamacare, we can lower costs and increase choices while empowering patients to make their own decisions about their care.

EditorVail-5704827 EditorVail

Older

It’s Outcome, Not Income, That Should be Stressed in Retirement Planning

Newer

GEICO Tip: Don’t Let Texting and Driving Run in Your Family

Advisor News

  • What to do when adult children become the client
  • Judge rules insurers not liable for Newport Group’s AME Church pension lawsuit
  • Why vacation homes are becoming a major blind spot for advisors
  • The rise of the ‘gray divorce’ insurance client
  • Succession planning: Building the future of your practice
More Advisor News

Annuity News

  • Best’s Market Segment Report: Global Life/Annuity Reinsurers Remained Poised for Steady Growth
  • When technology becomes easy to rent, what still separates life and annuity carriers?
  • Legacy Marketing Group® and Malibu Life USA Announce Distribution Partnership for New Fixed Indexed Annuity Platform
  • Empower Annuity Insurance Company of America Trademark Application for “EMPOWER WHAT’S NEXT” Filed: Empower Annuity Insurance Company of America
  • Industry pushes back on linking ‘financial strength’ to annuity illustrations
More Annuity News

Health/Employee Benefits News

  • The cost of ignoring long-term care
  • Reports on Geriatrics and Gerontology from National Hospital of the Faroe Islands Provide New Insights (10-year Cognitive Change In the Faroese Septuagenarian Cohort and Impact of Sociodemographic, Lifestyle, and Health Factors): Aging Research – Geriatrics and Gerontology
  • Department of Anesthesiology Researchers Have Provided New Data on Opioid Crisis (Insurance Noncoverage of Interventional Pain Procedures: Paving the Road Toward the Second Prescription Opioid Crisis): Opioids – Opioid Crisis
  • 160,000 Pennsylvanians Off Health Insurance Exchange After Price Hikes
  • New Medicaid rules could hit 600,000 Oregonians. Many may not know it
Sponsor
More Health/Employee Benefits News

Life Insurance News

  • AM Best Withdraws Credit Ratings of New Providence Life Insurance Company
  • When technology becomes easy to rent, what still separates life and annuity carriers?
  • St. Paul & Minnesota Foundation invests $15M to help revive downtown St. Paul
  • Legacy Marketing Group® and Malibu Life USA Announce Distribution Partnership for New Fixed Indexed Annuity Platform
  • NAIC SUMMER NATIONAL MEETING HIGHLIGHTS COLLABORATION AND ADVANCES PRIORITIES
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Classic Car Insurer OpenRoad Insurance Expands to 40 U.S. States in Two Years
  • How Aspire General Turned an Early Technology Bet Into Claims Automation at Scale with Kyber
  • Adjusto launches AI-Native contents claims services powered by its technology platform
  • URL Insurance Group Celebrates 40 Years of Service, Growth, and Industry Leadership
  • MassMutual Ascend Surpasses $2 Billion in Lifetime Advisory Annuity Sales, Reflecting Continued Momentum in RIA Channel
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet