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    Demonstrators in favor of Obamacare gather at the Supreme Court building in Washington March 4, 2015

    CBO Report: Cutting Obamacare Subsidies Would Spike Premiums by 20%

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    A potential Republican proposal to gut subsidies known as “cost sharing reductions” that help millions of people access healthcare would increase healthcare premiums by 20 percent in 2018, the US Congressional Budget Office said Tuesday.

    “Gross premiums” for the benchmark “Silver” plan offered on Affordable Care Act marketplaces  would “on average, rise by about 20 percent in 2018 relative to the amount in CBO’s March 2016 baseline and rise slightly more in later years,” according to a CBO report released August 15.

    The March analysis the CBO refers to above indicated that GOP plans to scrap the ACA, a.k.a. Obamacare, would leave 14 million people uninsured by next year, while “52 million people under age 65 would be uninsured” by 2026.  

    The new findings indicate the Republican idea won’t contribute to the nation’s financial health. “Implementing the policy would increase the federal deficit, on net, by $194 billion from 2017 through 2026,” the latest CBO score says.

    In comments that did not wear well at all, then-White House Press Secretary Sean Spicer said the GOP plan "is plan A and plan A," adding that there was no backup plan.  Five months later, the Trump administration has not moved the needle on President Barack Obama’s signature healthcare reform law. On August 12, Trump made the top Senate Republican, Mitch McConnell, the topic of his public ire.

    ​Furthermore, observers in Washington have noticed that Reince Preibus, an establishment GOP figure who steered the Republican National Committee for years before assuming the role of Chief of Staff in the Trump administration was fired almost immediately following Congress’ failure to agree on changes to the Affordable Care Act.

    Republicans have a majority of seats in the House and Senate. 

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    Tags:
    health insurance, Obamacare, Congressional Budget Office (CBO), Sean Spicer, Reince Priebus, Mitch McConnell, Donald Trump
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