CBO: Trumpcare bill cuts deficit, but millions would lose insurance

An estimated 23 million people would lose their health insurance by 2026 under Republican legislation to repeal and replace Obamacare, according to a non-partisan Congressional Budget Office report released yesterday. The CBO said that the so-called “Trumpcare” bill, which narrowly passed by U.S. House earlier this month, would also reduce federal deficits by $119 billion between 2017 and 2026. The bill would cover an additional 1 million Americans than a previous version of the bill, which failed to clear the House, according to the CBO. In their scoring of the previous version, the budget office said the bill would cut $337 billion from the federal deficit over 9 years; premiums for individuals purchasing insurance would increase 15% to 20% in 2018 and 2019. The new Trumpcare bill passed in the House May 4, despite clashes between conservative and moderate members of the Republican Party and a lack of review from the CBO. The GOP bill is designed to repeal most Obamacare taxes, such as a penalty for not purchasing health insurance, and would roll back the expansion of Medicaid and cut its funding. The bill would also allow states to opt out of a popular Obamacare provision that prevents insurers from charging people with pre-existing conditions higher rates, as well as 1 that required insurers to cover 10 essential health benefits including maternity care and prescription drugs. The CBO report said the latter amendment would make it difficult or imposs...
Source: Mass Device - Category: Medical Devices Authors: Tags: Healthcare Reform Capitol Hill Source Type: news