CBO Report Is In. 24 Million Expected To Lose Healthcare Within 10 Years
Republicans have long been wanting to get rid of Obamacare and replace it with something “better.” The Congressional Budget Office (CBO) projected on Monday that the new proposed bill will cause 14 million more people to be uninsured by 2018, with that number rising to 24 million in a decade.
The report finds that the reason 24 million would be uninsured by 2016 is due to the proposed medicaid changes. The new healthcare bill ends the extra federal funds for the expansion of Medicaid and caps overall federal spending for the program, both of which CBO says would lead to people losing coverage.
CBO also found that people would actually be paying more out-of-pocket. The out-of-pocket cost, including deductibles, “would tend to be higher” under the GOP bill than under ObamaCare because of a loosening of requirements on insurers.
“The CBO’s estimate makes clear that TrumpCare will cause serious harm to millions of American families,” Senate Democratic Leader Charles Schumer (D-N.Y.) said in a statement.
“Tens of millions will lose their coverage, and millions more, particularly seniors, will have to pay more for health care. The CBO score shows just how empty the president’s promises, that everyone will be covered and costs will go down, have been.”
Even with the report showing that millions will lose coverage Paul Ryan still remains optimistic on the new bill.
“I recognize and appreciate concerns about making sure people have access to coverage,” Ryan added. “[O]ur plan is not about forcing people to buy expensive, one-size-fits-all coverage. It is about giving people more choices and better access to a plan they want and can afford.”