The Congressional Budget Office (CBO) on Thursday announced the Republican Affordable Care Act (ACA) repeal proposal would lead to 22 million more Americans without health care coverage by 2026.
Current law, according to the CBO report, would lead to coverage for 90 percent of Americans under 65 years old in 2026. The Better Care Reconciliation Act would result in health coverage for 82 percent of individuals in the same age bracket.
“CBO and JCT anticipate that, under this legislation, nongroup insurance markets would continue to be stable in most parts of the country,” the report says. “This legislation would, by CBO and JCT’s estimates, increase average premiums in the nongroup market before 2020 and lower them after, relative to projections under current law.”
The CBO says cuts to Medicaid and subsidies for nongroup insurance would produce a lower federal deficit. According to the report, estimates point to a $420 billion reduction in the deficit between 2017-2026.
Medicaid spending would drop 26 percent by 2026, according to the CBO.