October 13, 2017 / 1:35 AM / 9 months ago

Trump plans to end subsidy payments to Obamacare insurers - Politico

WASHINGTON (Reuters) - U.S. President Donald Trump plans to cut off subsidy payments to insurers selling Obamacare coverage, Politico reported on Thursday, citing two people familiar with the matter.

U.S. President Donald Trump speaks to introduce his Secretary of Homeland Security nominee Kirstjen Nielsen in the East Room of the White House in Washington, U.S., October 12, 2017. REUTERS/Yuri Gripas

Trump has repeatedly threatened to stop the payments, which are made directly to insurance companies to help cover out-of-pocket medical expenses for low-income Americans enrolled in individual healthcare plans under the Affordable Care Act, commonly know as Obamacare.

The payments are estimated to amount to $7 billion in 2017.

Writing by Eric Beech; Editing by Eric Walsh

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