Trump threat: End health payments unless there's an overhaul

Photo courtesy: Fox News

WASHINGTON (AP) - President Donald Trump is threatening once more to end required payments to insurance companies unless lawmakers repeal and replace the existing health law.

Trump tweets: "If a new HealthCare Bill is not approved quickly, BAILOUTS for Insurance Companies and BAILOUTS for Members of Congress will end very soon!"

Trump's threat comes a day after Senate Republicans failed to pass legislation to repeal parts of the health law enacted under President Barack Obama.

The subsidies are estimated at $7 billion a year and help reduce costs such as deductibles for people with low incomes. Republicans are challenging the payments in court, and Trump has only guaranteed them through the month.

Senate Democratic leader Chuck Schumer of New York says ending the payments would make health care even more expensive.