Throughout the election campaign, Donald Trump vowed to repeal Obamacare and was in jubilant mood after the House of Representatives approved the American Healthcare Act. Though this was only the first step toward the scrapping of Obamacare, President Trump was quick to tweet about his victory.

The reaction of doctors, hospitals, and even medical insurers has been exceedingly negative, as many fear that millions of Americans could lose medical cover.

Significant cuts to Medicaid could potentially also price many people out of purchasing medical cover in state marketplaces.

Medical insurers join doctors in opposition to Healthcare Act

In a perhaps surprising move, the Trump Healthcare Act victory is also seen as disastrous by a large number of medical insurers whose businesses largely depend on Medicaid and Medicare.

Michael J. Dowling, chief executive of Northwell Health reacted by saying, "To me, this is not a reform. This is just a debacle."

Following Thursdays' vote, two of the health insurance industries' main trade groups called on legislators to increase tax credits in an effort to help people afford medical cover, especially the elderly, those on low incomes and people living in high-coast locations.

Sharp reductions in Medicaid are of particular concern, even to insurers no longer focused on the individual market, as many of them now may risk losing a substantial part of their revenue.

Impact of Trumpcare

If passed by the Senate in November, the American Healthcare Act, now nicknamed Trumpcare by some Democrats, has far-reaching implications.

States would be free to seek waivers from providing certain benefits, employers could sharply reduce health contributions, and small businesses could opt out of providing coverage altogether without facing any penalties.

As a result, many people on low incomes, the self-employed, and contract workers are likely to struggle to afford medical cover under the new legislation.

Doctors, hospitals and medical insurers seek significant changes to legislation

Following the vote, medical professionals, consumer groups, and medical insurances have united in urging legislators to make significant changes to the legislation. While Thursday's vote has been hailed a victory for president Trump, many believe that getting the American Healthcare Act approved by the Senate will be a difficult task. Many Republican senators are said to be critical of the legislation and may not be willing to support the bill.

Undoubtedly, we are in for several months of discussion and debate, and it remains to be seen whether the Republican senators will unite in their support for the new Amercian Healthcare Act.