CBO Just Confirmed Repealing Obamacare Would Be Disastrous
BREAKING.
32 million people would lose health insurance
The Congressional Budget Office on Wednesday confirmed that the Republican plan to repeal Obamacare without a replacement would have disastrous consequences.
According to the CBO, 32 million people would lose health insurance if Obamacare is repealed.
Of the 32 million who lose insurance by 2026, 17 million people would lose their insurance almost immediately by 2018. That total would grow to 27 million people by 2020.
Premiums would double
Additionally, premiums for health insurance would double if Obamacare is repealed.
“Average premiums in the nongroup market (for individual policies purchased through the marketplaces or directly from insurers) would increase by roughly 25 percent—relative to projections under current law—in 2018. The increase would reach about 50 percent in 2020, and premiums would about double by 2026,” the CBO report notes.
Medicaid would be decimated
The CBO says that a full Obamacare repeal would cut “$842 billion in federal outlays for Medicaid (most of which would have been spent to provide benefits for adults under 65.”
And according to the CBO analysis, 19 million people who are currently on Medicaid would lose their coverage.
You can read the full CBO report here.
