Eight healthcare groups penned a letter to Congressional leadership Saturday asking them to continue funding cost-sharing reduction subsidies after President Donald Trump announced Thursday he would stop the payments.
The letter calls for bipartisan legislative action to craft a funding package for the subsidies. Without them, the letter's authors believe insurance premiums will rise, many people will lose coverage and the federal budget deficit will increase by $194 billion over the next 10 years.
"We strongly believe that this funding must continue for the good of the American people. We have consistently maintained that uncertainty around CSR funding drives up costs and reduces choice for those who buy their own coverage," the groups wrote. "The administration's decision to end this essential support for millions of Americans will have harmful consequences for patients, families, businesses and taxpayers."
America's Health Insurance Plans, American Academy of Family Physicians, American Benefits Council, American Hospital Association, American Medical Association, Blue Cross Blue Shield Association, Federation of American Hospitals and the U.S. Chamber of Commerce joined in signing the letter.