The Trump administration hopes to move forward with a rule expanding alternatives to ObamaCare plans by this summer, Secretary of Labor Alex Acosta said Monday.
The rule allows for small businesses and self-employed individuals to band together to buy insurance as a group in what are known as Association Health Plans.
"We hope to have that by this summer," Acosta said Monday during a tax reform event alongside President Trump in Florida.
"It's going to be incredible, you're going to get tremendous insurance at a very low cost," Trump added.
Expanding these plans is part of the Trump administration's strategy to open up skimpier, cheaper alternatives to ObamaCare plans.
Democrats, as well as the main health insurer trade group, warn that the rule, along with a similar initiative to open up short-term health plans, could siphon healthy people away from ObamaCare plans, spiking premiums for those remaining.
A proposed rule on the issue was released in January.
Trump in his comments on Monday referenced Sen. John McCain's (R-Ariz.) vote against ObamaCare repeal last year.
"But it's alright because Alex Acosta has come up, and this is a plan that a lot of people have wanted for a long time, associations, and we're going to have tremendous signups," he said, without naming McCain.
Isn't that what competition is supposed to do?
Because ObamaCare plans are inefficient and should lose.
Unfortunately any transition is going to have losers as implementation takes place. ObamaCare destroyed the industries that were a fallback.