7 Most Important Numbers From The CBO Report On The Republican Health Plan
The nonpartisan Congressional Budget Office released its official analysis of the Republican plan to replace Obamacare and the numbers aren’t very good. In fact, for the average American, they are pretty devastating.
And with all the back and forth going on in Washington, we thought it would be best to stick to the numbers to see just how the Republican plan would impact Americans.
So here are the numbers you need to know about the Republican health bill:
1. 24 million
Under the Republican plan, 24 million people will lose their health insurance by 2026, according to the Congressional Budget Office report.
2. 14 million
The Congressional Budget Office also found that at least 14 million people will lose their health insurance almost immediately.
3. 14 million (Again)
The number 14 million shows up again in the CBO report, this time in the section analyzing the number damage to people on Medicaid. The CBO found that 14 million fewer Medicaid enrollees by 2026,” compared to if Obamacare stays in place. The Republican plan achieves this by spending $880 billion less on Medicaid over the next 10 years.
4. 18.6 Percent
The Congressional Budget Office analysis found that the uninsured rate in America would sky rocket to 18.6% of Americans. For reference, under Obamacare the uninsured rate went from about 16% down to 10% today. Here is a fancy chart from the good folks at Vox who used the CBO numbers. You can find more fancy graphs that tell the same story here.
5. $275 billion
That’s the amount of wealth being transferred from low-income and middle-class Americans to the top 2% in the Republican plan.
6. $14,600
This is how much a 64 year old woman making $20,000 a year would pay for health insurance under the Republican plan, according to the CBO analysis. Now I know what you are thinking, $14,600 seems like a heck of a lot of money for anyone let alone a person making $20,000 a year. Yeah, here’s the thing about that – the good folks who put together Obamacare already thought about that which is why that same 64-year-old woman only pays $1,700 with the Affordable Care Act.
Bonus number: that is a 758 percent increase!
7. $1 trillion
The CBO report found that the Republican plan transfers $1 trillion away from programs targeting poor and middle-class families, much of which goes to the rich in the form of tax cuts.
