On Sunday, health insurance companies offered plans to cover nearly 6 million Americans who would lose their health insurance coverage under President Donald Trump’s proposed tax cuts.
However, according to The Washington Post, the plans have “exorbitant” co-pays, deductibles and other costs that are “exceeding the size of their benefits.”
The Post reports that a handful of insurance companies have signed on to offer such plans, and that insurers will likely have to compete for the small number of customers who are willing to pay such high premiums.
The newspaper reported that the plans are being offered by two insurance giants that have significant holdings in health care firms and have been known to make policy changes to help attract more customers.
Insurers will likely face competition from a variety of companies offering cheaper, less generous plans.
A Kaiser Family Foundation analysis last year estimated that about one-fifth of Americans would have to pay more to have health insurance in 2019.