The numbers are in! As the Associated Press reports, the nonpartisan Congressional Budget Office (CBO) has reviewed the House Republican healthcare plan, also known as Trumpcare, and the math doesn’t look good:
Fourteen million Americans would lose coverage next year under House Republican legislation remaking the nation’s health care system, and that figure would grow to 24 million by 2026, Congress’ nonpartisan budget analysts projected Monday. [Pols emphasis] The figures dealt a blow to a GOP drive already under fire from both parties and large segments of the medical industry.
The report by the Congressional Budget Office flies in the face of President Donald Trump’s aim of “insurance for everybody,” and he has been assailing the credibility of the CBO in advance of the release. Administration officials quickly took strong issue with it.
Congressional Republicans and The White House had anticipated poor marks from the CBO, which is why they spent much of the last week talking about how little confidence they had in the CBO’s forecasting abilities. But today’s CBO report may be much worse than Republicans could have predicted; remember those claims that Obamacare is unstable and on the verge of collapse? Yeah, not so much:
“Insurance for everybody!”
— President Trump speaking about GOP healthcare plans in January.
It also undercuts a central argument that he and other Republicans have cited for swiftly rolling back former President Barack Obama’s health care overhaul: that the health insurance markets created under the 2010 law are unstable and about to implode. The congressional experts said that largely would not be the case and the market for individual health insurance policies “would probably be stable in most areas either under current law or the (GOP) legislation.”
“Nobody will be worse off financially…”
— Health and Human Services Secretary Tom Price, speaking about Trumpcare on Sunday.
Today’s report also undercuts statements made by President Trump just this morning, when he said, “Things are gonna be very bad this year for the people with Obamacare. They’re gonna have tremendous increases.” As it turns out, according to the CBO, Trumpcare would cost Americans much more than Obamacare:
…The budget office found that average premiums for individuals would rise in 2018 and 2019 by 15 percent to 20 percent compared to current law, because Republicans would eliminate the penalties designed to induce people to buy insurance coverage.
Aside from the fact that Trumpcare will leave 24 million people uninsured and will be more expensive for those who can still manage to get coverage, this is a great piece of legislation!