CBO: 32 million would lose insurance by 2026 under Obamacare repeal

Some 32 million more people would be uninsured by 2026 if Obamacare were repealed under a new bill unveiled by the Senate Wednesday, according to the Congressional Budget Office.

The bill would effectively repeal Obamacare in 2020, giving lawmakers until then to come up with a replacement plan. But it would also eliminate the individual and employer mandates retroactively to 2016, and get rid of taxes on the wealthy and others. It would eliminate Medicaid expansion starting in 2020.

In its analysis, the CBO said the legislation would decrease deficits by $473 billion from 2017-2026.

Average premiums for individual policies bought through through marketplaces or directly from insurers would increase by about 25 percent, the CBO said.

"The increase would reach about 50 percent in 2020, and premiums would about double by 2026," the report said.

 

This BBSNews article was syndicated from News | WPLG, and written by News | WPLG. Read the original article here.