CNBC reported how Trump’s reckless ObamaCare moves have increased the numbers of uninsured after years of steady decline. The number of Americans without health insurance increased by about 3.2 million in the first year of Donald Trump’s presidency, which featured a series of efforts to undercut the Obamacare law, a new survey finds. A total of 12.2 percent of all adults now lack health insurance, an increase of 1.3 percentage points since the last quarter of 2016, according to the Gallup-Sharecare Well-Being Index.
The spike in the uninsured rate over the course of 2017 is the biggest single-year increase measured since the survey started asking Americans about their health insurance status in 2008.
The tax bill passed by Congress last month included that gutting of the Obamacare individual mandate. The Congressional Budget Office has estimated that 13 million more Americans would become uninsured in the next decade because of that repeal, although some analysts say the increase will be less dramatic than that.
Meanwhile, insurance profits keep going through the roof. UnitedHealth Group CEO Dave Wichmann told investors the company will reap $1.7 billion in additional earnings this year because of the tax cuts which slashed the corporate tax rate. UnitedHealth is the largest health care company on the planet with $10.6 billion in profit and $201 billion of revenue in 2017, according to its latest earnings report. The higher cash flow will add to UnitedHealth’s political and financial sway in the health care system.