The Congressional Budget Office — a non-partisan agency that provides budget and economic information to Congress — has put together a report detailing what will happen if the Affordable Care Act is repealed. It is terrifying.
Here are the bullet points:
— In the first year, the number of uninsured people in the United States will increase by 18 million. After Obamacare’s Medicaid expansion is eliminated, that number will grow to 27 million. The CBO estimated that, by 2026, there would be 36 million fewer insured people than under the ACA.
— Premiums for those who used to receive healthcare through the ACA’s marketplaces will increase by 20-25 percent in the first year, 50 percent after Medicaid expansion is repealed, and double that by the year 2026.
— In the first year, roughly HALF of the population would live in an area where there was no insurer who would even provide coverage for nongroup markets (i.e., those who were only afforded coverage by virtue of Obamacare). “That share would continue to increase, extending to about three-quarters of the population by 2026.”
— Because of the rising cost of premiums and the decreased number of healthcare participants, there is a potential for market destabilization.
— Around 59 million people under the age of 65 would be uninsured in 2026, representing 21 percent of the population under the age of 65.
That is insane.
Ironically, it is in states that Trump won where the most new people signed up for Obamacare this year. The number of insured in Florida, Texas, Georgia, and Pennsylvania will be creamed.