Thirty-two million people could find themselves uninsured by 2026 if President-elect Trump and Republican lawmakers don’t have something to replace the ACA with right away. That’s just one calamity: The other would be the doubling of premiums for beneficiaries in the individual market, according a report released yesterday by the Congressional Budget Office.
Republicans were quick to note that the report assumes that there will be no replacement. Republican Sen. Orrin G. Hatch, chairman of the Finance Committee, tells the New York Times that, “Today’s report shows only part of the equation—a repeal of Obamacare without any transitional policies or reforms to address costs and empower patients. Republicans support repealing Obamacare and implementing step-by-step reforms so that Americans have access to affordable health care.”
Trump has stated that he wants repeal and replace to happen simultaneously. He also wants it to happen soon, putting pressure on GOP lawmakers to come up with a viable plan.
The CBO echoes what insurers and the Obama administration project would happen if repeal takes place alone without a replacement. The CBO came up with the 32 million losing coverage by estimating that there will be 23 million fewer in the individual market, and about 19 million people would lose Medicaid coverage. What could possibly offset the losses would be an increase in the number of people with employment-based insurance.
Source: New York Times