The much-anticipated CBO analysis of GOP’s healthcare reform plan designed to repeal and replace Obamacare is out, and the findings are not very flattering for Republicans.
Millions Left without Health Insurance
The Office found that under Trumpcare, 15 million Americans would lose health insurance in 2018 mainly because the mandate to get a health insurance plan would be gone. The CBO estimates that the number of uninsured Americans could jump by 19 million in 2020 to 22 million in 2026.
However, that number could increase even more because of Medicaid cuts which would be phased off over the next decade. CBO expects enrollment in the program to fall 16% among people under age 65 by 2026. By that year, around 49 million Americans will not have health coverage. By contrast, under Obamacare, only 28 million would lack health insurance by that year.
It is shocking that after just one year, 15 million people will lose access to healthcare as the GOP silently killed Obamacare’s individual mandate which forces people to buy health insurance or face penalties.
Senate Bill Worse than the House Bill
Experts believe the Senate version of Trumpcare is even worse than the House version. Under the Senate bill, Medicaid will face cuts up to 15% from 2025 through 2035. Senators want to change Medicaid funding so that it is no longer influenced by medical inflation, but by common inflation. This means that the program will get less funding each passing year, and recipients should expect medical costs and premiums to climb.
The CBO analysis of the House bill was a slap in the face for many Republicans, and the latest review was expected to “add to McConnell’s headaches” even before being released. The previous CBO report prevented Republicans from passing the bill in the House in March. It is unclear if the latest analysis would have the same effect on Trumpcare now.
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