The legislation would also allow insurers to charge higher premiums.
The legislation would also allow insurers to charge higher premiums.

Bill Could Leave Millions of Americans Uninsured

Bill Could Leave Millions of Americans Uninsured

House Republicans passed a bill this week that could strip away health insurance from millions of Americans.
Lawmakers and President Donald Trump celebrated the vote Thursday, saying it will make health care better for everybody. But the American Health Care Act, as the bill is named, is also expected to leave millions of people without coverage. That fact seemed to be overlooked in the frenzy over last-minute changes to the legislation that would weaken Obamacare’s protections for those with pre-existing conditions, CNNMoney reported.
Some 24 million fewer people would have insurance in 2026 than under Obamacare, according to a Congressional Budget Office analysis of an early version of the bill. The legislation has changed a bit since then, with many experts predicting that the revised score will show even more would be affected.
A total of 52 million people would be uninsured in 2026, compared with 28 million if Obamacare were to continue, according to the CBO report, which was released in March.
This would reverse the historic gains in coverage in recent years. Since Obamacare was passed, the nation’s uninsured rate has fallen to a historic low of 10.3% for those under age 65, according to data from the Centers for Disease Control and Prevention.
Many low-income adults have obtained coverage through Medicaid expansion, while others have been able to sign up for subsidized individual market policies on Obamacare exchanges. Also, children under age 26 are now allowed to stay on their parents’ insurance plans.
The Republican plan, on the other hand, would make coverage unaffordable in a variety of ways. It would end enhanced federal funding for Medicaid expansion and curtail federal support for the overall Medicaid program, which provides coverage for more than 70 million people. All told, it would decrease federal spending on the program by $880 billion over the next decade, the CBO estimates. That would leave 14 million fewer people in the program by 2026, accounting for more than half of the coverage decline.
The legislation would also allow insurers to charge higher premiums in the individual market to those in their 50s and early 60s, while reducing rates for younger Americans. And it would overhaul the way the federal government helps people pay for coverage—providing tax credits to those higher on the income scale, but making them less generous for many lower-income enrollees and for older consumers than Obamacare’s subsidies.
Those changes would result in 2 million fewer Americans—many of them older folks—in the individual market, according to CBO.

Short URL : https://goo.gl/i52x5z
  1. https://goo.gl/Di40SI
  • https://goo.gl/cb7BLl
  • https://goo.gl/FOZ6ER
  • https://goo.gl/LDZqq8
  • https://goo.gl/bUb5Eb

You can also read ...

Bithumb Hacked, $32m in Cryptocurrency Stolen
Cryptocurrencies dropped after the second South Korean...
Washington in March imposed tariffs of 25% on steel and 10% on aluminum, in a move mainly aimed at curbing imports from China.
Russia said on Tuesday it would impose import duties on US...
Australian Telecom Co. to Axe 8,000 Jobs
Australia’s dominant telecommunications company Telstra...
Saudi Arabia, which employs about two-thirds of its citizens, is chipping away at a budget deficit that ballooned to almost 16% of GDP after the oil shock of 2014, while FDI slumped more than 80% last year.
Show up, swipe in. The routine is familiar to office workers...
World Shares Snap Five-Day Losing Streak
World stocks steadied near three-week lows on Wednesday and...
European businesses say it has become harder to do  business in China over the past year.
European companies complain they still face a tough business...
South Korea to Grow 3 Percent
The Organization for Economic Cooperation and Development has...
Egypt to Get $2b From IMF in July
Egypt is set to be given the fourth $2 billion tranche of the...

Add new comment

Read our comment policy before posting your viewpoints