Big Lie for 2017 - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
March 18, 2017 Newswires
Share
Share
Post
Email

Big Lie for 2017

Daily Record, The (Wooster, OH)

President Barack Obama told a whopper when he was pitching his health care reform bill. “If you like your health care plan, you can keep it,” was so far off the mark that PolitiFact designated it its Lie of the Year for 2013.

Now we have a new contender for 2017, also spawned from Obamacare: President Donald Trump’s promise that no Americans would lose coverage in the Republicans’ repeal of the Affordable Care Act.

“We’re going to have insurance for everybody,” he told the Washington Post. As a candidate, he also said “there will be no cuts to Social Security, Medicare and Medicaid.”

Now we know those two statements are nowhere close to true. The nonpartisan Congressional Budget Office on Monday issued its assessment of the American Health Care Act, as the Republicans’ Obamacare replacement is known. Its numbers were an “eye-popper,” as Sen. Bill Cassidy, a Louisiana Republican, put it: 24 million more people without health insurance compared with Obamacare, and enormous cuts to Medicaid. Those and other findings should render this bill dead immediately.

Obamacare is far from perfect, so we’re eager to see improvements in America’s health care system. Let’s look at the CBO’s findings, good and bad, about the Republican replacement, and then decide if it’s the way to go.

— The number of people without health insurance would almost double, from 28 million to 52 million, by 2026 under the AHCA compared to if Obamacare remained in effect. The percentage of people under age 65 without coverage would shoot from 10 percent to 19 percent, erasing all the gains of the past several years.

— The rising uninsured number would not be driven by people choosing not to purchase coverage. About 14 million would lose coverage from Medicaid cuts (many of them elderly and/or disabled); 7 million would lose coverage from employers dropping it and just 2 million would be uncovered because they no longer buy it on the individual market.

— Overall, premiums a decade from now would be an average of 10 percent lower than they would be under Obamacare. Young people’s costs would drop, however, while older people’s would skyrocket. A 21-year-old making $26,500 would have typical annual premiums of $1,450 in 2026, compared with $1,700 under current law. But a 64-year-old making that amount would see his costs balloon from $1,700 under current law to $14,600 under the GOP plan.

— The Republican plan would reduce deficits by $337 billion over 10 years compared with keeping Obamacare. For context, the CBO projects total federal deficits over that time period to total around $9 trillion.

— With Planned Parenthood funding slashed, pregnancy rates would rise. Those pregnancies and the resulting babies would drive higher Medicaid spending, offsetting some of the spending cuts there.

To summarize: Republicans are proposing a small drop in federal deficits compared to continuing with Obamacare, lower taxes for the wealthy and lower premiums for young people in return for doubling the number of uninsured, accepting lesser coverage and hammering the elderly and poor.

House Speaker Paul Ryan said he’s not looking “to win some coverage beauty contest” or “to show a pretty piece of paper that says we’re mandating great things for Americans.”

That’s good, because there’s little risk of him doing either with this plan.

The Charlotte Observer (Charlotte, N.C.)

Older

MNsure backers make their case in Duluth

Newer

Banks says he’ll support new health-care bill, with changes

Advisor News

  • The 6X Formula for leveraging content marketing with AI
  • When a home becomes difficult to insure, the plan changes
  • The inheritance gap: Helping clients plan for money that hasn’t arrived
  • After the midterms: Addressing your clients’ tax concerns
  • Berkeley arts tax heads toward passage while public bank measure looks likely to fail
More Advisor News

Annuity News

  • Regulators advance shorter, streamlined annuity buyers guide
  • Annuity sales hit record $126.3B as RILA sales top $25B
  • More pre-retirees rethink retirement as income-planning concerns grow
  • AM Best Affirms Credit Ratings of Knighthead Annuity & Life Assurance Company and Merit Life Insurance Co.
  • Jackson reports record annuity sales, increases share repurchase authorization
More Annuity News

Health/Employee Benefits News

  • ACA premium increases in double digits for second year
  • New Va. subsidies help lure people back to health insurance
  • Oscar Launches New Wave of Consumer Health Insurance Products to South Carolina Individuals and Families
  • STATE AUDITOR JAMES BROWN HELPS STOP ADDITIONAL $9.5M IN UNSUPPORTED PAYOUTS CONNECTED WITH OBAMACARE FRAUD SCHEME, BRINGING TOTAL SAVINGS TO $55.6M
  • Will CVS corporate break-up impact Aetna’s Hartford campus? Not for ‘time being’
More Health/Employee Benefits News

Life Insurance News

  • New Jackson Study Finds the "Sandwich Generation" Squeeze Comes from More Than Two Sides and It’s Quietly Draining Retirement Savings
  • Samsung Fire & Marine Insurance to Acquire Outstanding Stake in Canopius with KKR and KIC
  • Start estate planning before the family needs it
  • Best’s Market Segment Report: Health and Property Lines of Business Drive Hong Kong’s Non-Life Insurance Growth
  • AM Best Affirms Credit Ratings of Central States Indemnity Co. of Omaha and Its Subsidiary
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Insurvoice Lets Independent Insurance Agency Owners Analyze Every Customer Call in ChatGPT or Claude
  • Spectrum Weather & Specialty Insurance Celebrates 15 Years and Welcomes the Next Generation
  • Royal Neighbors of America® Increases Service Capacity
  • Benefits Studio Launches to Fill the Missing Middle of Benefits Navigation at $49/mo
  • Lauren Sinnott Named to Ragan’s Top Women in Marketing Awards, Class of 2026 
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.