BALTIMORE (WJZ) — The Congressional Budget Office (CBO) released its analysis of the Republican health care bill Monday, and found that by 2018, 14 million more people would be uninsured under the legislation than under current law.
CBS News reports that according to the CBO analysis, the legislation would reduce federal deficits by $337 billion over the next decade, with the largest savings coming from reductions in Medicaid outlays and the reduction of Affordable Care Act (ACA) subsidies.
Average premiums will go up because “fewer comparatively healthy people” are expected to sign up, since the individual mandate will be eliminated.
The CBO’s long-awaited cost analysis of the House GOP leadership plan, which included estimates on the number of people expected to be covered, will likely affect Republicans’ chances of passing the proposal. Millions more would be uninsured, CBO estimated.
“CBO and [the Joint Committee on Taxation] estimate that, in 2018, 14 million more people would be uninsured under the legislation than under current law,” the CBO report says. The number of uninsured would increase to 21 million in 2020 and 24 million in 2026.