Health care bill would drive up premiums for millions, CBO finds
- Author: Leroy Wright Jun 02, 2017,
Jun 02, 2017, 0:09
The Congressional Budget Office (CBO) has now released its analysis of the American Health Care Act (AHCA) recently passed by the U.S. House of Representatives.
First, the health care bill that House Republicans passed to replace Obamacare, which is collapsing, will not become law.Rod Blum of Iowa said the House Obamacare repeal bill only "tweaks" the Affordable Care Act and would have liked to have seen the legislation move more to the right.
All seven Indiana Republican Party House members cast votes in favor of the legislation.
"Under the new law, if it were to pass, people who were in that age group would be able to be charged five times as much for insurance as younger people", he states. These waivers would make it possible for states to disregard essential health benefit standards - which require that certain kinds of care be covered by insurers participating in in state marketplaces - and community rating, which makes health care more affordable for people with pre-existing conditions.
Most of those individuals would be people who either could not afford or could not access insurance. But the CBO estimate is based on the projection that businesses will cover 4 million more people than in the original bill. That report estimated that 24 million fewer would be insured in 2026 if this bill were to become law, putting the uninsured rate at around 18.6 percent. Known as the American Health Care Act, it would also bring an average of 20 percent increase in premiums of individual health plans. I knew that emotions would be running high and that many are scared about how potential changes to health care might affect them. Those who are living the states that waive key consumer protections in the current health care law would have a hard time purchasing insurance coverage.
The CBO report provides a launch pad for the Senate to now consider the AHCA, where it is expected to undergo many changes.
All this vitriol because I dared to take the lead in trying to save a broken health care system.
Despite GOP promises that the bill will cut costs for Americans, the CBO's analysis determined that for people with pre-existing conditions or those in "high risk" pools, premiums may increase to exorbitant prices.
Although many healthy customers would welcome plans with lower monthly premiums, the high cost of medical care isn't going down. "It is a damning indictment of congressional Republicans' and President Trump's reassurances that the bill guarantees protection for people with pre-existing conditions", said Emily Gee, health economist at CAP. Services or benefits likely to be excluded from the EHBs in some states include maternity care, mental health and substance abuse benefits, rehabilitative and habilitative services, and pediatric dental benefits.
The AHCA has progressed to the Senate, where lawmakers will use the CBO report to inform their work on the legislation. According to a new study released by U.S. Department of Health and Human Services (HHS), the average Alabamian is paying $397 more monthly for coverage today than they did in 2013.
Enacting the AHCA would reduce direct spending by $1,111 billion and reduce revenues by $992 billion, for a net reduction of $119 billion in the Federal deficit over the 2017-2026 period.