In a report dated January 17, the Congressional Budget Office (CBO) offered estimates on what would happen should the ACA be repealed. These figures range from premium prices to statistics of those uninsured. Here are a few of the notes:
A jump in premium prices by 20-25% for those who purchase their healthcare either directly from the provider or via the ACA’s exchanges. Premium prices are projected to double by 2026, but before that, a 50% jump in price could happen within the year following the removal of Medicaid Expansion.
Further, the number of uninsured would increase by 18 million following the first year post-Repeal. The elimination of Medicaid Expansion could bring that number to 27 million, then to 32 million by 2026.
While the report was requested by the Democrats, particularly Senator Minority Leader Chuck Schumer and other leaders, it’s certainly an unofficial wake-up call to the GOP should they attempt a repeal with no clear replacement plan.
Currently, they are working off a 2015 repeal bill for reference, but even in two years, things have certainly changed. Other concerns posed by the CBO include whether or not individuals would still participate in obtaining coverage, as well as how this will affect the scope of their coverage. To read the full report, click here.