CBO: 14 Million to Lose Insurance Under New Health Care Bill
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The
The CBO, a group of nonpartisan budget analysts and economists, released its report Monday (http://www.cbo.gov/sites/default/files/115th-congress-2017-2018/costestimate/americanhealthcareact_0.pdf) on the cost of carrying out President
The CBO report says if the Republican plan is adopted, the number of uninsured people would rise by 14 million, to a total of 41 million, in 2018.By 2026, that number would reach 52 million, compared to 28 million if Obamacare were to remain in place.
The health care law adopted in 2010 was a signature program for Obama, and brought coverage to 20 million people who previously lacked insurance.
The CBO said the new Republican plan would cut the federal deficit by
Health and Human Services Secretary
Price also said the CBO did not take into consideration all of the pieces that would be part of the plan, including pending legislation to reform the insurance market.
The CBO's report says premiums are expected to rise in the first few years before decreasing starting in 2020.It says provisions in the Republican law would allow insurers to charge older people five times as much as younger people, as opposed to three times as much under the current law.
The new plan would eliminate the so-called individual mandate, which requires most people to carry health insurance or pay a tax penalty.
"Most of the reductions in coverage in 2018 and 2019 would stem from repealing the penalties associated with the individual mandate," the CBO said."Some of those people would choose not to have insurance because they choose to be covered by insurance under current law only to avoid paying the penalties. And some people would forgo insurance in response to higher premiums."
House Democratic Leader
But Trump calls Obamacare a "disaster," and says it is collapsing because of rising premiums, the cost to small businesses, and lack of choice for consumers.
Obamacare also became infamous for its difficult introduction in 2013 that included computer failures and a confusing bureaucracy.
Trump's promise
Trump has promised that his health plan will "cover everybody" and offer cheaper policies for individuals and small groups of people who buy insurance for themselves rather than getting coverage through their jobs.
Republican lawmakers want to retain two of the most popular features of Obamacare -- banning insurers from dropping coverage for anyone because of a pre-existing medical condition, and allowing young people to stay on their parents' policies until they turn 26 years of age.
Republican lawmakers want to retain two of the most popular features of Obamacare - banning insurers from dropping coverage for anyone because of a pre-existing medical condition, and allowing young people to stay on their parents' policies until they turn 26.
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