Latest Senate ACA repeal bill would lead to 22 million more uninsured

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The CBO released an analysis of this idea on Wednesday, projecting that 32 million people would lose insurance by 2026 as the individual insurance market descended into chaos. The CBO estimates that $51 billion of the $70 billion in additional stabilization funding would be spent over the ten-year period; the remainder would be spent after 2026.

Private health insurance companies have been increasingly refusing to provide coverage in certain parts of the country that are deemed unprofitable under ACA restrictions, leading to 31 percent of counties in the United States having only one option to choose from in the ACA marketplace, according to the Kaiser Family Foundation, but the CBO predicts more counties would have fewer options under the repeal bill.

"CBO and JCT [Joint Committee on Taxation] estimate that enacting this legislation would reduce federal deficits by $420 billion over the coming decade and increase the number of people who are uninsured by 22 million in 2026 relative to the number under current law", the report stated.

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Under this legislation, for a single policyholder purchasing an illustrative benchmark plan (with an actuarial value of 58 percent) in 2026, the deductible for medical and drug expenses combined would be roughly $13,000, the agencies estimate.... Millions of people would be left uninsured by the House's American Health Care Act, as well as the Senate's Better Care Reconciliation Act.

On Thursday, the CBO scored an updated version of the bill, but that version didn't include the CFA, meaning the effects of that amendment have not been analyzed by the agency.

While President Trump has returned - for now- to his desire for Senate Republicans to vote on a repeal and replace package, there is still no sign McConnell has enough votes to even begin debate on the bill. Approximately three-fourths of the reduction in Medicaid spending would be the result of scaling back the expansion of Medicaid eligibility that was enacted by the Affordable Care Act.

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The repeal-only bill would cut Medicaid by $842 million, the CBO said.

"I have always voted for legislation to repeal the Affordable Care Act".

U.S. Sen. Cory Booker (D-N.J.) called the repeal bill "a morally bankrupt effort".

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The new analysis is another blow to Senate Majority Leader Mitch McConnell, who added $70 billion in additional funding meant to help shore up the existing markets in the hopes it would improve the long-term impacts of the bill. "Not everyone is made of money and can support themselves through the insurance that costs so much. We have to have a responsible replacement". Four Republicans came out against it by Monday, leaving McConnell without the necessary majority he needed to advance the bill.

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