WASHINGTON — Republican and Democratic senators joined in announcing a plan Tuesday aimed at stabilizing America’s health insurance markets in the wake of President Donald Trump’s order to terminate “Obamacare” subsidies. Trump himself spoke approvingly of the deal, but some conservatives denounced it as an insurance company bailout, making its future uncertain.

The agreement followed weeks of negotiations between Republican Sen. Lamar
Alexander of Tennessee and Democratic Sen. Patty Murray
of Washington that sought to address health insurance markets that have been in limbo following
GOP failures to repeal and replace the Affordable Care Act. The talks took on added urgency when Trump announced last week that he would end monthly “cost sharing reduction” payments the government makes to help insurance companies reduce costs for lower-income people.

Without that money, premiums for some people buying individual health plans would spike, and some insurers would flee the markets, industry officials warn.

The Alexander-Murray deal would continue the insurer payments for two years, while establishing new flexibility for states under former President Barack Obama’s law.

Alexander said the president had encouraged his efforts in phone calls over the past two weeks.