President Trump on Saturday threatened to end key payments to insurance companies made under ObamaCare if a repeal-and-replace bill is not passed.

"After seven years of 'talking' Repeal & Replace, the people of our great country are still being forced to live with imploding ObamaCare!" the president wrote in a tweet.

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

After seven years of "talking" Repeal & Replace, the people of our great country are still being forced to live with imploding ObamaCare! — Donald J. Trump (@realDonaldTrump) July 29, 2017

If a new HealthCare Bill is not approved quickly, BAILOUTS for Insurance Companies and BAILOUTS for Members of Congress will end very soon! — Donald J. Trump (@realDonaldTrump) July 29, 2017

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Senate Minority Leader Charles Schumer (D-N.Y.) fired back Saturday, saying Trump should "stop playing politics with people's lives and health care, start leading, and finally begin acting presidential."

"If the president refuses to make the cost sharing reduction payments, every expert agrees that premiums will go up and health care will be more expensive for millions of Americans," Schumer said in a statement.

Trump has previously threatened to withhold the payments, known as cost-sharing reduction (CSR) payments, which lower the amount individuals have to pay for deductibles, copayments and insurance.

The White House announced earlier this month that key ObamaCare subsidies to insurers would be paid this month, but the administration did not make a commitment beyond July.

Trump's comments come after Senate Republican efforts to repeal and replace ObamaCare failed in the early hours of Friday morning after three Republicans and all 48 Democrats and Independents rejected pared-down repeal legislation, known as a "skinny" bill.

The issue is of critical importance to Republicans in all three branches of government because the party campaigned for seven years to repeal former President Barack Obama Barack Hussein ObamaObama calls on Senate not to fill Ginsburg's vacancy until after election Senate Republicans face tough decision on replacing Ginsburg Cruz: Trump should nominate a Supreme Court justice next week MORE's signature healthcare law.

Updated: 3:24 p.m.