The ObamaCare replacement bill would result in 22 million more uninsured people over 10 years, according to the Congressional Budget Office (CBO). The organization also found that the bill would result in a $321 billion deficit reduction over 10 years, The Hill reports.
There would be 15 million more uninsured people next year, the report finds, largely due to the mandate to buy insurance being revoked. The number of uninsured would then rise in later years as smaller subsidies to buy private insurance and Medicaid cuts kick in.
CBO states that lower financial assistance in this bill, compared to ObamaCare ,would make premiums unaffordable for many low-income people, and deductibles would rise as well.
“As a result, despite being eligible for premium tax credits, few low-income people would purchase any plan,” the CBO report states. As with the House healthcare bill, the CBO found that premiums would initially rise under the Senate bill, before falling on average over time.
The report estimates premiums will increase in 2018 by 20 percent and by 10 percent in 2019. In 2020, premiums would be about 30 percent lower than under ObamaCare and 20 percent by 2026.
The bill also allows states to repeal ObamaCare’s requirements on what an insurance plan must cover, known as essential health benefits. That move could make certain services extremely expensive.
Nearly half of Americans would live in areas where insurance covering certain healthcare services “would become more expensive, in some cases, extremely expensive” because of the repeal of essential health benefits, the CBO finds.
The CBO finds that in the Senate bill, prices would still spike for many older people, though in some cases not quite as much as the House bill.