Trump: I'm 'very proud of my executive order' on health care

Trump: I'm 'very proud of my executive order' on health care
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President Trump tweeted Saturday he is "very proud" of his recently-signed executive order on health care.

“Very proud of my Executive Order which will allow greatly expanded access and far lower costs for HealthCare,” Trump tweeted. “Millions of people benefit!”

Trump also claimed that health insurance stocks fell after his decision to end key ObamaCare payments was announced.

“Health Insurance stocks, which have gone through the roof during the ObamaCare years, plunged yesterday after I ended their Dems windfall!” Trump tweeted. 

CNBC reported Friday that two large insurance companies, Centene and Anthem, saw their stocks drop after Trump’s announcement. Multiple hospital and health-care companies also saw their stocks decline.

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Trump signed an executive order Thursday which seeks to expand the ability of small businesses and other groups to join together in purchasing health insurance through association health plans. It also seeks to lift limits on short-term health-care plans. The order directs agencies to write new rules.

Experts warned the order could destabilize the ObamaCare markets as cheaper, less-effective plans could drive people away from ObamaCare plans.

Trump also faced criticism for his decision to end key ObamaCare payments known as cost-sharing reduction payments. The payments are worth an estimated $7 billion this year and they subsidize insurance plans for low-income people.

Insurers have said that, without the payments, they will either have to increase premiums or exit the individual markets.

Democrats blasted Trump for the decision to end the payments, with Senate Minority Leader Charles Schumer (D-N.Y.) and House Minority Leader Nancy Pelosi (D-Calif.) calling the decision a “spiteful act of vast, pointless sabotage.”

Trump’s decision has also already spawned legal action, with 18 states and Washington, D.C., announcing Friday that they would sue Trump to stop him from ending the payments.