If a bill to fix Obamacare’s cost-sharing reduction (CSR) payments were paired with a repeal of the health care law’s individual mandate, the CSR fix wouldn’t do much to lower premiums or increase coverage, the nonpartisan Congressional Budget Office (CBO) says.
The budget scorekeeper said that previous estimates would remain roughly the same under the above scenario: 13 million fewer people would have coverage in 2027 and average premiums would rise by 10 percent in most years of the decade.
Reflecting slower than anticipated enrollment growth in health insurance purchased through the Affordable Care act, better known as Obamacare, the nonpartisan Congressional Budget Office has lowered its estimate of how many people will get coverage through the law in 2016.
In any given month this year, about 13 million people on average are now expected to be enrolled in a health plan purchased on a marketplace created by the law, often called Obamacare.
The CBO strikes again. The relationship between the Congressional Budget Office (CBO) and Obama administration was somewhat chummy, given the department’s analysis on issues ranging from the fiscal stimulus to immigration reform. Now relations have cooled. The CBO is widely respected and regarded as non-partisan, yet the cause of this latest chill in the air are CBO’s findings that Obamacare does not eliminate “job lock” and that many will leave their jobs because they no longer need to work to get healthcare coverage. Michael R. Strain, in the Atlantic writes: ”By providing households with a transfer payment to purchase health insurance that phases out as labor market income grows, Obamacare discourages work – period. This subsidy shrinks with income.”
The CBO has confirmed what many already know: Obamacare has plusses and minuses. While, arguably, more can afford health insurance, and feel they no longer have to rely on employers for it, insurance subsidies impose higher income taxes – which discourage work.