The CBO also found the legislation would reduce the federal deficit by $119 billion over a decade, compared to a prior forecast of a $337 billion cut.
"As a result, the nongroup markets in those states would become unstable for people with higher-than-average expected health care costs", the CBO report stated.
The Associated Press reports that the Congressional Budget Office says an estimated 51 million people under age 65 would be uninsured in 2026 under the latest version of the House Republican health care bill.
Today Congresswoman Suzanne Bonamici (D-OR) called out House leadership after the nonpartisan Congressional Budget Office (CBO) released its assessment of the costs of the health care legislation that passed the House earlier this month.
The budget office raised concerns about a key legislative compromise that allowed the bill to narrowly pass the House on May 4, by a vote of 217-213. "The report makes clear Trumpcare would be a cancer on the American healthcare system", Senate Democratic leader Chuck Schumer said at a news conference.
The CBO believes the uninsured number will go up to 24 million by 2026 due to "changes in Medicaid enrollment - because some states would discontinue their expansion of eligibility, some states that would have expanded eligibility in the future would choose not to do so, and per-enrollee spending in the program would be capped".
Regarding the impact on health insurance coverage, CBO's analysis broadly defines private health insurance coverage as consisting of a comprehensive major medical policy that, at a minimum, covers high-cost medical events and various services, including those provided by physicians and hospitals.
- The CBO notes that the increase would be 20 percent in 2018 and 5 percent in 2019.
The CBO predicted that in states that exercise their waiver right in both cases, young, healthier individuals would opt for insurance plans with lower premiums rather than purchasing plans from insurers that have retained the community-rating provision. The instability would stem from some states changing what essential health benefits are covered by this market, and allowing insurers to determine premiums based on one's health "if the person had not demonstrated continuous coverage".
Under the new plan, federal funding for health care programmes for the poor and disabled would shrivel by US$834 billion through a phase out of Medicaid's expansion.