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Key Facts from CBO Report on Obamacare Repeal Bill

from ACMA

The Congressional Budget Office (CBO) released their report last week on the American Health Care Act, the House-passed bill to repeal and replace Obamacare. CBO stressed the uncertainty of its estimates, given that it's hard to know which states would take up the chance to opt out of certain key parts of Obamacare. This factor was a key reason why CBO's estimates were not accurate on Obamacare — states opting to not expand coverage, when the estimates assumed they would. Here are ten things to know about the CBO's findings:
  • 14 million fewer people will be insured one year after passage.
  • 23 million fewer will be insured in 10 years.
  • AHCA would cut spending on Medicaid, the joint federal-state health program for low-income people, by $834 billion. The program would cover 14 million fewer people.
  • Premiums will go up in 2018 and 2019. After that, there will be significant variation depending on whether someone lives in a state that opts out of key Obamacare insurance rules.
  • In states that waive some Obamacare rules, premiums would decline by 20 percent over a decade compared to current law.
  • One out of six Americans will live in an area with an unstable insurance market in 2020, where sick people could have trouble finding coverage. But five out of six would have access to relatively stable markets.
  • Poor, older Americans would be hit especially hard. The average 64-year-old earning just above the poverty line would have to pay about 9 times more in premiums.
  • In 2026, 51 million people under age 65 would be uninsured — almost twice as many as the 28 million who would have lacked coverage under Obamacare.
  • The bill will save $119 billion, which is $32 billion less than a previous version of AHCA.
  • It repeals $664 billion worth of taxes and fees that had financed Obamacare.
View the full CBO report.
Read more in FierceHealthcare. more

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