The Congressional Budget Office released its long anticipated report on the “American Health Care Act” on Wednesday. The CBO report shows what we all expected: the Republican plan is a giveaway to millionaires, at the expense of senior citizens, low income Americans, and people with pre-existing conditions. Here are eight key takeaways from the CBO report:
23 million fewer people would be insured in 10 years.
14 million fewer people would be insured one year after passage.
Medicaid would be cut by $834 billion.
14 million fewer people would be covered by Medicaid.
Premiums will go up 20% in 2018.
Premiums will go up 5% 2019.
The elderly poor will be hammered by the bill. As reported by Politico, “the average 64-year-old earning just above the poverty line would have to pay about 9 times more in premiums.”
51 million people under age 65 would be uninsured by 2026.
Senator Chuck Schumer may have said it best: “Unless you’re a healthy millionaire, TrumpCare is a nightmare. This report ought to be the final nail in the coffin of the Republican effort to sabotage our healthcare system.”