The government’s scorekeeping agencies revised their controversial estimate for how many more people would be uninsured as a result of changes Republicans and the Trump administration made to Obamacare.
The latest estimates project that zeroing out Obamacare’s fine for going uninsured alone will result in roughly 8.6 million more people becoming uninsured by 2027 than if the fine had been kept in place, compared to the 13 million figure the agencies had released several months ago. Read More at the Washington Examiner
New numbers on healthcare costs highlight, yet again, how much of a dereliction of duty it will be if congressional Republicans don’t take another crack this year at replacing Obamacare.
The Congressional Budget Office reported on Wednesday that premiums for the basic Obamacare plan will rise 15 percent next year, despite overall price inflation in the rest of the economy remaining at or below 2 percent.
The huge price hikes will not be a one-time thing, either. “Going forward, the agency projects premiums will increase an average of 10% a year between 2019 and 2023 and then 5% annually between 2024 and 2028,” reported CNN. Read More at the Washington Examiner
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.