Yesterdays score released by the widely respected, non-partisan Congressional Budget Office (CBO) details the cost and health coverage estimates associated with the Republican effort to repeal the Affordable Care Act.
We wanted to share with you some of the statistics included in the CBO report which you may find useful. Facts should influence lawmakers to find the best policy solutions. As the health care debate continues to unfold, I am reminded of a quote by the late Senator Daniel Moynihan: “Everyone is entitled to their own opinions, but not their own facts.”
Congressional Budget Office Report:
- By 2018, 14 million Americans would lose health insurance coverage under the Republican’s effort to repeal and replace the Affordable Care Act (ACA).
- Up to 24 million Americans would lose health insurance coverage by 2026.
- By 2020, 52 million people would be uninsured. Under the ACA, that number would be 28 million.
- Over the next two years, premiums for people who have health insurance not covered by their employer would increase by up to 20 percent.
- Between 2017 and 2026, CBO estimates there will be $880 billion of cuts to Medicaid, adversely impacting middle to lower income families and seniors who rely upon government funding to afford health coverage.
- Medicaid spending by the federal government would decrease by 25 percent by 2026.
- Enrollment in Medicaid will be reduced by 14 million people by 2026.
- Included in this plan are $592 billion of tax credits for the wealthy, as opposed to $361 billion in tax credits to help middle class and working class families afford health care.
- The Republican plan would cut $170 billion from the Medicare Trust Fund, shortening the life of Medicare by 3 years.
The complete report issued by the CBO can be found here.