The Congressional Budget Office (CBO) released its analysis of the American Health Care Act. The report, which many felt should have been released before the bill was passed through the Ways and Means and House Energy and Commerce Committees, describes mixed outcomes of the bill. For example, 14 million Americans could lose coverage by the end of 2018, but over the next decade, the government would save $337 billion.
Premiums in the individual market are expected to initially rise up to 20 percent, followed by a decrease in the following years. However, even with lower premiums anticipated, the new tax credit plan would make insurance unaffordable for many — especially those older Americans, who could now face premium rates at five times those of their younger counterparts.
The House Budget Committee advanced the bill with a 19-17 vote. There are many provisions of the bill that remain controversial, including:
- The end of Medicaid expansion established under the Affordable Care Act
- Increases in out-of-pocket costs, as well as the rate increase for older Americans
- Ending funding to Planned Parenthood
Here’s what to expect next week:
- The bill will go to the Rules Committee
- It will then go to a House vote