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When President Trump assumed office, he promised that he was going to repeal the Obamacare health insurance plan. The Trump Administration is determined to dismantle the program.

Trump determined to weaken Obamacare

On Tuesday, a report released by the administration indicated that average monthly premiums for the program would drop by 4% next year. Obamacare health insurance program was part of the Affordable Care Act created during the Obama administration. Trump has cut funding for the program that he has fought to overturn through legal courts and in Congress.  Trump is currently supporting a lawsuit seeking to destroy the Obamacare healthcare insurance plan.

This will be a second-year straight the premiums are falling, which is an indication that the Obamacare marketplaces may be stabilizing. President Trump has been boasting of stabilizing healthcare marketplaces as well as providing cheaper alternatives. The administration has indicated that it will avail 20 additional insurers once registration for 2020 coverage begins next week.

The administration has done away with the directive that people pay a fee or have health insurance. Equally, insurers will begin offering cover that does not include most benefits covered in Obamacare but guarantees a specific level of coverage.

Insurance premiums to fall across states

According to the report issues, the average premium per month for a 27-year old that purchases a silver plan will drop from $406 this year to $388 per month in 2020. Huge drops include 20% in Delaware, 15% in North Dakota, and 14% decline in Oklahoma. The cheapest will be New Mexico with a premium of $282 per month, while Wyoming will be the most expensive at $723 per month.

During the final years of the Obama administration, premiums increased significantly because of losses that insurers incurred. Trump’s move to weaken the Obama care resulted in uncertainty, which led to insurers hiking prices.

The increase in the number of insurers selling plans to the federal marketplace next year will bring the total to 175. This will be the largest number of insurers in the country in three years.