New analysis from the Congressional Budget Office (CBO) of the revised Senate Republican healthcare bill, which repeals and replaces Obamacare, shows that the proposed legislation would reduce the federal deficit by $473 billion over the next decade but increase the number of Americans uninsured by 32 million in 2026.
Last Thursday, Senate Republicans released a new revised version of their latest healthcare proposal called the Obamacare Repeal Reconciliation Act of 2017, which hasn’t been fully embraced by Senate Republicans for approval, and keeps intact Obamacare’s 3.8 percent tax on investment income and tax on the wealthiest Americans, while repealing taxes that target health insurers, prescription drugs, medical devices, and “high cost” employer sponsored plans.
It also includes a plan for Americans to be able to purchase a scaled back low premium health insurance plan in the individual market, and allocates an additional $45 billion towards combating the opioid epidemic in America.
According to the latest score yesterday from the Congressional Budget Office (CBO) of Senate Republican’s latest Obamacare Repeal Reconciliation Act of 2017, the number of uninsured Americans would increase by 17 million in 2018, up 2 million from the 15 million under Senate Republican’s first healthcare version, known as Better Care Reconciliation Act of 2017.
More Americans would become uninsured in the future.
By 2020 that number would increase to 27 million and grow to 32 million in 2026 due to the elimination of Obamacare’s expansion of eligibility for Medicaid and the ending of subsidies for insurance purchased through the marketplaces.
Higher Insurance Premiums And Medicaid Impact
Average premiums in the nongroup market would increase by 25 percent in 2018 and would increase 50 percent in 2020 before nearly doubling by 2026.
The net effect of the Obamacare Repeal Reconciliation Act of 2017 with Medicaid eligibility expansion tapering off would result in a $ 842 billion reduction with Medicaid funds from 2017-2026, up $70 billion from $772 billion in the first version of the Senate Republican’s bill.
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