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The highly anticipated health care replacement was announced and from what we know so far, the plan would mainly benefit the wealthy. Shocker.

Mar, 08, 2017

For months now, President Donald Trump has given vague responses to what his replacement for Obamacare would be. As of last week, he said, “it’s going to be something special … you’re going to like what you hear." But earlier this week, we got some answers and many don't like what they hear. 

The White House, who collaborated with Senate Republicans, announced the American Health Care Act on Monday. According to reports from Mic, the proposed plan provides tax credits instead of federal subsidies to help cover health insurance costs, Medicaid expansion would end in 2020 and Americans would no longer be mandated to purchase health insurance.

Reports show that the plan would provide tax credits for the individual market and would benefit high-income Americans. As Vox writes, Obamacare’s tax credits are based on income, with those who earn less getting more help. However, the new plan is primarily based on age.

Similar to Obamacare, the bill would provide coverage for pre-existing conditions and would still allow those under 26 to remain on their parents' plans. 

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Although the former name of the bill is the American Health Care Act, some have begun to call it Trumpcare for short. However, Kellyanne Conway told reporters that the President did not initiate attaching his name to the plan. 

We're happy it is the American Health Care Act. This is serious stuff … this isn't about branding according to someone's name. This is serious business,” Conway said.

Shortly after the announcement, Rep. Jason Chaffetz (R-Utah) spoke to CNN about the logistics of the new plan. His commentary put Twitter in an frenzy after he said, “Maybe rather than getting that new iPhone… Americans should invest in their own healthcare.”

On Twitter, the proposed plan was given harsh backlash from many including California Senator Kamala Harris, U.S. Senator Tim Kaine and media mogul Russell Simmons.

But of course people brought the jokes and roasted the new plan on Twitter. People even created memes that they feel are visually comparisons between the new plan and Obamacare.

Although policy experts say that the new system would result in fewer Americans having health care, it is still unknown how much it will cost.