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Uninsured Numbers Will Soar Under 2016 GOP Repeal Bill

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Uninsured Numbers Will Soar Under 2016 GOP Repeal Bill

 

Premiums and the amount of uninsured people would soar under a Republican bill Congress passed last year scuttling President Barack Obama’s health care overhaul, lawmakers’ nonpartisan budget analyst estimated Tuesday in a report underlining the GOP’s risks in its fresh push to dismantle and replace the health law. What will this mean for the insurance industry and to individual insurance agents?

 

The Congressional Budget Office report declared that under the 2016 repeal bill, premiums for policies bought from onlien marketplaces created by Obama’s healthcare law would rise up to 25% a year after enactment of the new GOP measure. They would double by the year 2026, the report projected.

 

In addition to these findings, the report showed that 18 million more people would be uninsured a year after the new law’s enactment, and 32 million more by the year 2016.

 

While Republicans have put forward several outlines for how they plan to recraft Obama’s 2010 statute, they’ve never united behind any one plan, despite years of trying.

 

Trump told The Washington Post that the forthcoming GOP plan would provide “insurance for everybody.” However, some congressional Republicans have used more modest descriptions, saying that the plan will ofer “universal access.”

 

“Nonpartisan statistics don’t lie: it’s crystal clear that the Republican effort to repeal the Affordable Care act will increase health care costs for millions of Americans and kick millions more off of their health insurance,” Senate Minority Leader Chuck Schumer, D-N.Y., said in a written statement.

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