While Republican Senators try to put together their latest, flailing plan to overhaul Obamacare, the Congressional Budget Office today released some quick calculating of its own:
The CBO says the result of the Graham-Cassidy bill would be that insurance coverage for “high-cost medical events would be reduced by millions” of people. (The deficit would be reduced by $133 billion under the bill with in a 10-year period, the agency says).
The reason, says the CBO:
- Enrollment in Medicaid “would be substantially lower because of large reductions in federal funding.”
- Enrollment in nongroup coverage “would be lower because of reductions in subsidies for it.”
- Enrollment in “all types of health insurance would be lower because penalties for not having insurance would be repealed.” Those losses would be “partly offset by enrollment in new programs established by states using the block grants and by somewhat higher enrollment in employment-based insurance,” the CBO says.
Because of the quick turnaround, the CBO said it didn’t have time yet to estimate the exact numbers. — Joe Cantlupe