The Congressional Budget Office (CBO) on Monday projected that the number of people without health insurance would grow by 14 million in 2018 under the Republican ObamaCare replacement bill, with that number rising to 24 million in a decade.
The bombshell estimate was larger than even many analysts had predicted, stirring fresh doubts about whether the legislation can pass ahead of a possible vote in the House next week.
Democrats highlighted President Trump’s campaign promises to provide “insurance for everybody,” saying the bill falls woefully short.
“The CBO’s estimate makes clear that TrumpCare will cause serious harm to millions of American families,” Senate Democratic Leader Charles Schumer (N.Y.) said in a statement.
“Tens of millions will lose their coverage, and millions more, particularly seniors, will have to pay more for health care. The CBO score shows just how empty the president’s promises, that everyone will be covered and costs will go down, have been.”
The CBO estimated that 24 million people would become uninsured by 2026 under the bill, largely due to the proposed changes to Medicaid. Seven million fewer people would be insured through their employers over that same time frame because some people would choose not to get coverage and some employers would decline to offer it.
The CBO calculated that premiums would decrease an average of 10 percent by 2026 after an initial increase of 15 percent to 20 percent due to the repeal of ObamaCare’s requirement that everyone buy coverage. Costs would rise for older people but fall for younger people, it said.
Out-of-pocket costs, including deductibles, “would tend to be higher” under the GOP plan than under ObamaCare because of looser requirements on insurers. High deductibles have been one of the GOP’s main lines of attack against ObamaCare.