Senate Republicans Roll Out Tweaks To Health Care Bill
00:27, Jun 30, 2017
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CBO's projections would represent an abrupt turn from the trends under Obamacare; the U.S. uninsured rate had dropped below 11 percent in late 2016.
The Congressional Budget Office estimates that under the BCRA, 15 million more Americans would lose insurance in 2018 compared to current law under Obamacare. Both the House and Senatebill would strip the Obamacare provision requiring larger employers to provide affordable coverage. The overall net effect of the bill would be to reduce the budget deficit by $321 billion, while providing a cumulative tax cut of some $541 billion over the next decade alone, the vast majority of which would go to a small number of high-income households.
Currently, five conservatives and moderates are publicly opposed to the Senate bill, with others' public statements on the matter all but voicing outright opposition.
The Senate may vote on the legislation as early as this week. Susan Collins (R-ME), have said they could not vote for a bill that would lead to tens of millions fewer Americans having health insurance. Here's what he said on CNN after the CBO score was released. "The Senate bill thinks more carefully than the House bill does about the consequences of different policies to the stability of insurance markets".
The new "score" is only slightly less daunting than CBO's analysis of an Obamacare replacement that squeaked through the House and is projected to knock 23 million out of coverage. Several GOP senators have said they want to see their bill cover more people than the House version. So Senate Republicans could significantly boost the spending in their bill over the next few days. "There's no way the Republican bill brings down premiums".
The above chart tracks the increase in premium price for "silver plan" insurance coverage for a hypothetical 60-year-old with income at 350 percent of the poverty line in 2020. Most importantly, it gives billions of dollars in tax cuts to wealthy individuals and insurance corporations, while leaving vulnerable people without the assistance they need. Under Obamacare, those who do not purchase healthcare are levied a tax and many Americans have to pay high deductibles.
"We have a very good plan", said the president on Sunday. It would also slap annual spending caps on the overall Medicaid program, which since its inception in 1965 has provided states with unlimited money to cover eligible costs.
But for Americans of a certain age, the Senate bill should be pretty scary because Medicare and Social Security are probably next. The bill would also change how federal Medicaid contributions are calculated by setting a per-enrollee limit that adjusts annually for inflation.
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