Trump supports new $1,500 check to millions of Americans - here's who's eligible

 President Donald Trump is supporting a GOP proposal to send $1,500 payments to millions of Americans through their health care accounts. The legislation is being pushed by senators Bill Cassidy (R-LA) and Mike Crapo (R-ID).

The bill would give eligible Affordable Care Act (ACA) enrollees aged 18 to 49 a $1,000 payment, while eligible enrollees aged 50 to 64 would receive a payment of $1,500. "I like the concept. I don't want to give the insurance companies any money," Trump told reporters aboard Air Force One on Tuesday. "They've been ripping off the public for years."

Speaking to Politico, the president added that he wanted to offer the people better health insurance for less money. "The people will get the money and they're going to buy the health insurance that they want," he said. It comes after the scary reason the $2K stimulus check from Trump may happen sooner than expected was revealed.

What are the requirements to receive Trump's $1,500 check?

The bill would pour money into the health savings accounts for all ACA recipients earning up to 700% of the poverty level, Daily Mail reported.

Recipients must be enrolled in a bronze or a catastrophic plan on the ACA exchange to get a pre-funded Health Savings Account to be eligible. However, the proposal clarifies the money from the HSA cannot be used to fund abortion or gender-affirming care.

ACA recipients who are enrolled in a silver, gold or platinum plan will not qualify for the payments.

Still, millions of Americans enrolled in the ACA marketplace would be eligible for the proposed checks.

Reuters reported that this measure would contain a provision to lower insurance premiums by 11% in 2027 and would decrease federal Medicaid funding to states that provide healthcare to "illegal immigrants."

When will Trump's $1,500 checks be distributed?

It's still unclear if Cassidy and Crapo's bill will receive enough support at the 53-member Senate Republican conference on Tuesday.

However, the bill is expected to face resistance from Democrats.

Cassidy, a physician who chairs the Senate Health, Education, Labor, and Pensions Committee contends that this new approach would give patients more autonomy over healthcare spending.

However, critics warn that the bill might unjustly favor higher-income Americans, while lower-income individuals might have to transition toward short-term or high-deductible insurance plans.

Low-income consumers who currently pay little to nothing for coverage could experience a surge in new out-of-pocket costs should the subsidies run out.

It comes after it was exposed that Trump's $2,000 stimulus check rules mean 42% of Americans are not eligible.