CBO says 22 million more uninsured if the Senate health bill passed

The nonpartisan Congressional Budget Office (CBO) estimates 22 million less people will have health care coverage by 2026 with the health care overhaul bill that is being considered by the Senate.

It was previously estimated that under the bill passed by the House in May it would be 23 million less people. Weeks ago, Trump had told senators their House bill was (mean) and that he wants the Senate bill to have more (heart).

Number compare to the estimate for coverage we have under current law, the ACA Affordable Care Act or Obamacare, the law Republicans vow to repeal.  It is estimated by the CBO that by 2018; 15 million people would be uninsured. A number that would continue to rise through 2026.

Through later years additional legislative changes as in lowering spending for Medicaid and considerable cuts for smaller average subsidies in the nongroup market would then lead to additional increases in the number of people who have no health insurance; as stated in the analysis.

A consideration by Republican senators is a draft of a health care bill which scales back Medicaid federal funding and change subsidies that are available to help the low and moderate-income Americans buy private insurance. Then end the mandate for people to buy health insurance while repealing the taxes that help about 20 million Americans with coverage under the ACA.

A reduction in the federal deficit over the next decade of $321 billion would be made by the proposed bill. A nearly triple reduction in comparison to the House bill. Medicaid spending reductions would be responsible for the majority of saving; said the CBO. Obamacare taxes not directly related to health insurance coverage would account for the largest increases in deficits.

Premiums would rise as high as 20% for 2018 then trend downward; average premiums would be as much as 30% lower than current law. Healthcare for older people would increase greatly if the Senate bill passes. With individuals over 64 years of age and making $56,800 annually may see their premiums for silver plans triple; going from $6,800 to as high as $20,500.

While it is said the CBO report shows the end of the road for Trumpcare urging Republicans to turn back, the Republicans national Committee countered stating CBO has a long history of being way off.