U.S. Senator Rand Paul (R-KY) applauds as U.S. President Donald Trump signs an executive order to make it easier for Americans to buy bare-bones health insurance plans and circumvent Obamacare rules at the White House in Washington, U.S., October 12, 2017. REUTERS/Kevin Lamarque
NEW YORK (Reuters) - President Donald Trump on Thursday prescribed a quick fix to undo Obamacare through executive order after Republicans in the U.S. Congress failed to repeal and replace the healthcare law as promised, but industry experts said there are many steps involved that will slow it down.
Trump's plan rests on one main pillar, the creation of associations in which multiple employers can band together to buy health plans under the same law that large employers do. That law rests outside of many of the mandates of the 2010 Affordable Care Act, dubbed Obamacare.
