About 18 million people would lose or drop their health insurance in the first year after Obamacare is repealed, the Congressional Budget Office reported Tuesday.
The nonpartisan federal agency also found that health insurance premiums would spike another 20 to 25 percent, according to the new report. Within 10 years, 32 million more people would be without health insurance, the CBO projects.
Without a replacement, health care costs overall would continue to rise every year, as would the number of people going without health insurance. Premiums would continue to go up, as well.
This week, Republicans took the first step toward dismantling the Affordable Care Act: the Senate passed a budget resolution that says the best way to take a chunk out of the federal budget deficit is to defund Obamacare. The measure is set to come to a vote in the House today, and chances are it will pass there, too—even though the GOP has no clear replacement plan lined up. Which is not an ideal situation for health insurance recipients, or insurers themselves.
Here’s why. Obamacare has plenty of critics, but scrapping it in its entirety is rash and will benefit few—particularly not the over 20 million people who didn’t have healthcare coverage before it was enacted. But what seems to be in the process of happening now—-cutting off the programs’ money without changing the underlying regulations—is kind of even worse.
The race to repeal Obamacare by President-elect Donald Trump and the Republican Congress will have one immediate side effect beyond any doctor’s office: a large tax cut for the wealthiest Americans.
Urged on by Trump, the Senate overnight adopted a budget resolution that clears a path for eliminating the tax-and-spending provisions of the Affordable Care Act by simple majority vote — no Democratic cooperation required. That means repeal of two provisions targeted at high-income households: a 0.9 percent hospital insurance tax on earnings above $250,000 for couples and a 3.8 percent tax on capital gains, dividends and other nonlabor income above that same threshold.
The outcome of the repeal-and-replace Obamacare debate could affect more than you might think, depending on just how the GOP congressional majority pursues its goal.
Beyond the Affordable Care Act’s marquee achievements like guaranteeing health coverage for people with pre-existing conditions and allowing children to stay on parents’ plans until age 26, the roughly 2,000-page law created a host of other provisions that affect the health of nearly every American.
Some of these measures are evident every day. Some enjoy broad support, even though people often don’t always realize they spring from the statute.
Republicans on Capitol Hill are working to both “repeal and replace” President Barack Obama’s signature health care law, the Affordable Care Act, also known as Obamacare.
Republicans warned seven years ago that a health care law passed only by Democrats — with no support from the other party — would struggle to survive. The party-line vote to pass Obamacare, they said, was arrogant and reckless.
The Republicans are in a dither. They have long promised to repeal Obamacare and now they have the power to follow through. The problem? They don’t have an adequate plan for replacement that will placate the people who voted them into power. What can they do?
Obamacare had many problems – it did nothing to reduce costs and severely added to the complexity of the health care system. The benefits of lowering the number of uninsured people, free preventive care, and the promise of guaranteed coverage did not mitigate the pain of continually rising premiums, higher out of pocket costs, and high prescription costs. Insurance became more difficult to understand and purchase and the health care system continued to be a nightmare to navigate. This was a recipe for disaster.
Unfortunately, the plans put forth by the GOP to date will not address these issues either.
President-elect Donald Trump warned fellow Republicans Wednesday to “be careful” in their efforts to repeal and replace Obamacare, urging conservatives not to let the pressure off Democrats.
“Republicans must be careful in that the Dems own the failed ObamaCare disaster, with its poor coverage and massive premium increases,” Trump tweeted. “Don’t let the Schumer clowns out of this web…,” he added, referring to U.S. Senate Democratic Leader Chuck Schumer, who along with other Democrats was meeting with Obama about the law Wednesday morning.
Congressional Republicans have long boasted that once they claim the reins of power, they will act quickly and decisively to roll back what they view as the most onerous piece of President Obama’s domestic agenda: the Affordable Care Act.
But their actions starting Tuesday to end Obamacare will be far less sweeping, at least initially, than a full-blown repeal of the law.
As Republicans prepare to take over the White House and both houses of Congress next month, they’ve got President Barack Obama’s signature legislation squarely in their sights.
Some GOP leaders say they want to repeal the 2010 Affordable Care Act as soon as possible and figure out how to replace it later. Others say they may want to move more cautiously, changing certain aspects while keeping others. What’s clear is that big changes are in the works — even as the majority of Americans say they’d like to keep most of what the law offers.
Read more at NBC