Quick Takes: Key Highlights Of The CBO Report
- Author: Larry Hoffman May 26, 2017,
May 26, 2017, 16:57
"I am working with Senate colleagues to do so", Cassidy said.
The subsidies that help low-income Americans purchase insurance premiums under Obamacare would be replaced by tax credits under the new measure, beginning in 2020.
Durbin's remarks came a day after the nonpartisan Congressional Budget Office projected that the House bill would result in 23 million additional people going without insurance in 2026, including 14 million next year.
"Insurers would expect most purchasers to use the benefits and would therefore price that rider at close to the average cost of maternity coverage, which could be more than $1,000 per month", the report said.
Passage in the Senate will be a more hard hurdle, with Republicans holding a narrower majority there.
While many Republicans may take issue with the CBO estimates, Senate Majority Leader Mitch McConnell is pleased the report is finally done. In tweets, he suggested that Republicans should let Obamacare collapse and "challenge Democrats to work with us to fix the mess they created".
But writing legislation that can pass with only Republican votes has proven agonizing. Republican senators have said they're moving in their own direction.
"Today's updated CBO score reaffirms the disturbing reality of Trumpcare: tens of millions of Americans would lose their health insurance and millions more would be forced to pay dramatically more for less coverage - all to pay for tax cuts for millionaires and corporations".
The new bill will also allow states to get waivers so that insurers can charge more based on pre-existing conditions. That instability, the agencies say, would cause some people who would have been insured in the nongroup market under the PPACA to be uninsured.
The Republican legislation that would repeal and replace the Affordable Care Act - also known as Obamacare - would reduce the federal deficit by $119 billion. The previous bill was found to likely save $337 billion in federal budget deficits.
Those provisions included waivers states could get for insurers to raise premiums on some people with pre-existing conditions, and to ignore health benefits that must be covered under Obama's law.
Eventually, CBO and JCT estimate, those premiums [for less healthy people or those with preexisting medical conditions] would be so high in some areas that the plans would have no enrollment.
Acknowledging that it can't pinpoint which states might seek the waiver, CBO analysts project that one-sixth of the US population reside in states that could choose not to cover essential health services and may opt to charge people with preexising conditions more in in premiums than healthy people.
Material from Reuters was used in this report. According to the report released yesterday by Congress' objective legislative impact scorekeeper, half of the U.S. population would live in states that waived the ban on charging people higher premiums based on health status (called "community rating") and/or the requirement that plans cover minimum services, such as mental health and prescription drugs (called "essential health benefits"). For the one-third of the nation in states modestly reducing coverage requirements, average premiums would be about 20 percent lower, the analysts estimated. "Premiums would vary significantly according to health status and the types of benefits provided, and less healthy people would face extremely high premiums".
"This reflects the overall choices that House Republicans made in this bill: provide hundreds of billions in tax breaks for the wealthy and corporations at the expense of people with pre-existing conditions, tax credits for people purchasing coverage in the individual market, and people with Medicaid", Wakana said.