The Congressional Budget Office is a nonpartisan entity hired by the Republican-controlled Congress to summarize the likely impact of proposed changes to the law. Donald Trump and his Republican followers in Congress have proposed destroying the Affordable Care Act (commonly known as Obamacare) and have no agreement to replace the present law with anything at all.
Yesterday, the Congressional Budget Office came out with a report summarizing the economic impact of the Republican plans to repeal the Affordable Care Act.
The impact of the GOP plan:
– “The number of people who are uninsured would increase by 18 million in the first new plan year following enactment of the bill”
– “increase the number of people without health insurance coverage by about 27 million in the year following the elimination of the Medicaid expansion and marketplace subsidies and by 32 million in 2026”
– “In total, as a result of reduced enrollment, higher average health care costs among remaining enrollees, and lower participation by insurers, CBO and JCT project that premiums in the nongroup market would be about 50 percent higher in the first year after the marketplace subsidies were eliminated—relative to projections under current law”