Latino Insurance Executive Blasts Trump Health Care Bill
Mario Molina, CEO of Molina Healthcare, the 10th largest health insurance company in the U.S, thinks the Republican Health Care bill "is terrible".
While most insurance industry executives have been cautious about the repeal of the Affordable Care Act and its proposed replacement, Mario Molina, CEO of Molina Healthcare, is an exception.
“I think this bill is terrible,” said the CEO of Molina Healthcare in an interview with The Huffington Post. The company, headquartered in California, is 10th-largest health insurance company in the U.S.
Molina’s main argument against the bill is the same one critics have been making for months ― that the measure would expose millions of lower-income Americans to crippling medical bills, by taking away their Medicaid coverage or the federal tax credits that make it possible for them to buy private insurance, as reported in The Huffington Post.
Molina’s father, a physician like him, established the company in 1980 to serve low-income people in Southern California. Its business consists mostly of insuring people on Medicaid (states contract with Molina to provide coverage) or selling plans to people who buy on the Obamacare exchanges and, because of their low incomes, qualify for extensive subsidies.
Molina warned that if the GOP bill or something like it passes, and many millions of Americans end up losing coverage, the effects will eventually spread. He said the loss of payments would eventually hit the hospital sector, forcing closures particularly in rural areas, while eroding the quality of coverage available to everybody.
“You can’t say this is not my problem ― I have insurance, this is not my problem,” Molina said. “This is your problem. You just don’t know it yet.”
As reported in The Huffington Post.