Trump signed an executive order to weaken the Obamacare law

President Trump smiles after signing an Executive Order to make it easier for Americans to buy bare-bone health insurance plans and circumvent Obamacare rules. REUTERS/Kevin Lamarque
Vastavam web: President Donald Trump signed an executive order on Thursday to weaken the Obamacare law and make it easier for Americans to buy bare-bones health insurance plans, but the action faces possible legal challenges.Trump’s order was his most concrete step to undo Obamacare since he took office in January after promising voters he would dismantle the 2010 law.
“The cost of the Obamacare has been so outrageous, it is absolutely destroying everything in its wake,” he said at a signing ceremony in the White House.Trump wants to make it easier for small businesses to band together as associations across state lines to buy cheaper, less regulated health plans with fewer benefits.“Having failed to repeal the law in Congress, the president is sabotaging the system,” Schumer said in a statement.
Republicans, despite controlling the White House and both chambers of Congress, have failed since Trump took office to make good on their seven-year promise to repeal Obamacare, which they have called a government intrusion into Americans’ healthcare.Experts questioned whether Trump has the legal authority to expand association health plans.
The action could open Trump to legal challenges from Democratic state attorneys general, who have said they will sue Trump if he tries to destroy Obamacare, a law that brought health insurance coverage to 20 million Americans.Conservative groups and lawmakers have cheered Trump’s order. Republican Senator Rand Paul, who said he worked with Trump for months on the order, opposed the Senate’s most recent attempt to overhaul Obamacare because he said it left too many of Obamcare’s regulations and spending programs in place.
Shares of hospitals and insurers focused on the Medicaid health insurance program for low-income Americans have been particularly volatile this year due to efforts to roll back Obamacare.Hospital stocks edged lower on Thursday morning, with HCA Healthcare down 1.4 percent and Tenet Healthcare down 2.3 percent. Medicaid insurers also fell with Centene off 2.6 percent.