Trump Warns Health Care System Could 'Implode' - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Washington Wire
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
    • Advertise
    • Contact
    • Editorial Staff
    • 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
Health Insurance Newsletter
Washington Wire RSS Get our newsletter
Order Prints
February 27, 2017 Washington Wire
Share
Share
Tweet
Email

Trump Warns Health Care System Could ‘Implode’

Associated Press

WASHINGTON (AP) — President Donald Trump warned Monday that the nation's health care system was in danger of imploding and said Congress must make fundamental changes to the sweeping health law passed by his predecessor.

Trump said at a White House meeting with dozens of governors that he hoped to overhaul the American tax system but that was a "tiny little ant" compared to what he would need to do to remake the so-called Obamacare law.

The president's first major meeting with governors comes as Congress prepares to move forward on a repeal and replacement of the health care law, one of Trump's main campaign promises. Governors have raised concerns that the changes could undermine their efforts to expand Medicaid in their states and leave them stuck with a bigger share of the health care tab.

"It's an unbelievably complex subject. Nobody knew that health care could be so complicated," Trump told the governors.

Trump met later Monday morning with health insurance executives, some of whom are worried that the uncertainty over the health care law's future is spilling into the marketplace.

The president and the Republican-led Congress have made the overhaul of the health care law one of their top priorities at the start of Trump's administration. The Affordable Care Act has subsidized private health insurance available in all 50 states while an optional Medicaid expansion has been accepted by 31 states and the District of Columbia. The two components cover more than 20 million people.

A report by the consulting firms Avalere Health and McKinsey & Company presented to the governors during a weekend of meetings with the National Governors Association concluded that the changes under consideration by the GOP-led House would reduce significantly federal funding for Medicaid and subsidize private insurance, creating funding gaps for states and threatening a loss of coverage for many participants.

Without offering specific details about what he wants in a replacement package, Trump said the current health insurance market is "going to absolutely implode" and called on the executives to work with the government on a way forward.

"We must work together to save Americans from Obamacare," Trump said.

A group of Republican governors said after the meeting that Trump would provide details of his repeal and replace plan in his address to Congress on Tuesday night. They declined to offer specifics in deference to the president.

The GOP governors said Obama's health overhaul had focused on access to health care, but had failed to contain costs.

"This is a time for reform, to broaden the issue from beyond coverage to how do we do better quality, better cost-containment for long-term and ultimately it's about compassion," said Michigan Gov. Rick Snyder. "We're talking about real people here."

The insurers said after their meeting that Trump and Health Secretary Tom Price pledged to stabilize the insurance markets and bring down costs in the industry.

"President Trump and Vice President Pence were very clear that they will work toward a clear transition," said Dan Hilferty, CEO of Independence Blue Cross.

On Twitter follow Ken Thomas at: @kthomasDC

Older

ALittleHelp.com, a Free Community Funding Platform for Memorial Funds Launches

Newer

Combine Solicitation – X-Ray Film Storage

Advisor News

  • 2025 Top 5 Advisor Stories: From the ‘Age Wave’ to Gen Z angst
  • Flexibility is the future of employee financial wellness benefits
  • Bill aims to boost access to work retirement plans for millions of Americans
  • A new era of advisor support for caregiving
  • Millennial Dilemma: Home ownership or retirement security?
More Advisor News

Annuity News

  • Great-West Life & Annuity Insurance Company Trademark Application for “EMPOWER BENEFIT CONSULTING SERVICES” Filed: Great-West Life & Annuity Insurance Company
  • 2025 Top 5 Annuity Stories: Lawsuits, layoffs and Brighthouse sale rumors
  • An Application for the Trademark “DYNAMIC RETIREMENT MANAGER” Has Been Filed by Great-West Life & Annuity Insurance Company: Great-West Life & Annuity Insurance Company
  • Product understanding will drive the future of insurance
  • Prudential launches FlexGuard 2.0 RILA
More Annuity News

Health/Employee Benefits News

  • Findings from University of Nevada Update Understanding of Insurance (Restricted Medi-Cal Expansion and Healthcare Usage Among Undocumented Farmworkers): Insurance
  • New Managed Care Study Findings Reported from Ohio State University (Examining clinical, patient, and policy factors associated with silver diamine fluoride adoption in safety-net dental clinics): Managed Care
  • New Managed Care Study Results from Jacquelyn Roth et al Described (Insurance Type Does Not Impact Adverse Outcomes Following Breast Reduction Surgery): Managed Care
  • Data from Fordham University Provide New Insights into Insurance (Are Your Secrets Safe?: Imposing a Fiduciary Duty On Healthcare Ai Developers Dealing With Sensitive Health Information): Insurance
  • Could expiring health insurance subsidies be revived retroactively?
Sponsor
More Health/Employee Benefits News

Life Insurance News

  • 2025 Top 5 Life Insurance Stories: IUL takes center stage as lawsuits pile up
  • Private placement securities continue to be attractive to insurers
  • Inszone Insurance Services Expands Benefits Department in Michigan with Acquisition of Voyage Benefits, LLC
  • Affordability pressures are reshaping pricing, products and strategy for 2026
  • How the life insurance industry can reach the social media generations
More Life Insurance News

- Presented By -

Top Read Stories

  • How the life insurance industry can reach the social media generations
More Top Read Stories >

NEWS INSIDE

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

FEATURED OFFERS

Slow Me the Money
Slow down RMDs … and RMD taxes … with a QLAC. Click to learn how.

ICMG 2026: 3 Days to Transform Your Business
Speed Networking, deal-making, and insights that spark real growth — all in Miami.

Your trusted annuity partner.
Knighthead Life provides dependable annuities that help your clients retire with confidence.

Press Releases

  • Two industry finance experts join National Life Group amid accelerated growth
  • National Life Group Announces Leadership Transition at Equity Services, Inc.
  • SandStone Insurance Partners Welcomes Industry Veteran, Rhonda Waskie, as Senior Account Executive
  • Springline Advisory Announces Partnership With Software And Consulting Firm Actuarial Resources Corporation
  • Insuraviews Closes New Funding Round Led by Idea Fund to Scale Market Intelligence Platform
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
  • Advertise
  • Contact
  • Editorial Staff
  • 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
© 2025 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