Why The Republican Health Plan Is A Total Disaster According To CBO Analysis
The Congressional Budget Office released its analysis of the House Republican Obamacare replacement plan on Monday and it found that 24 million would lose their health insurance by 2026. The Republican plan would also lead to 14 million people losing health insurance almost immediately.
Here are some key questions the CBO answers.
HOW MANY PEOPLE WILL LOSE INSURANCE UNDER THE REPUBLICAN HEALTH PLAN?
The CBO estimates that 14 million people to lose their health insurance right away if it becomes law. And by 2026 that number would climb to 24 million by 2026.
“Some of those people would choose not to have insurance because they chose to be covered by insurance under current law only to avoid paying the penalties, and some people would forgo insurance in response to higher premiums,” the CBO report concludes.
Under Obamacare 20 million people have gained coverage and the uninsured rate in the country has dropped to a record low. The Republican plan to replace Obamacare would decimate that progress and lead to millions losing their health insurance.
Interestingly, the CBO finds that under the Republican plan 7 million fewer people would be insured through their employers by 2026.
The number of uninsured, the CBO projects, would rise by 21 million in 2020 and then hit 24 million in 2026.
HOW MANY PEOPLE WILL LOSE MEDICAID COVERAGE UNDER THE REPUBLICAN PLAN?
Medicaid expansion has been a key driver to increasing coverage for low-income Americans for Obamacare. The Congressional Budget Office analysis found that 14 will lose their Medicaid coverage under the Republican plan. According to CBO, the Medicaid cuts under the Republican will culminate “in 14 million fewer Medicaid enrollees by 2026,” compared to if Obamacare stays in place.
The CBO also estimates that the Republican plan would reduce spending on Medicaid by $880 billion over the next decade.
