CBO scores Trumpcare bill, estimates 23 million lose insurance by 2026

An estimated 23 million people would lose health coverage by 2026 under Republican legislation, dubbed Trumpcare, according to the non-partisan Congressional Budget Office report released today.

The Office said that the bill, which was narrowly passed by the US House earlier this month and looks to begin dismantling and repealing Obamacare, would also reduce federal deficits by $119 billion between 2017 and 2026

The bill would cover an additional 1 million more Americans than a previous version of the bill which failed to pass the House, according to the CBO. In their scoring of the previous version, the Office said the bill would cut $337 billion from the federal budget deficit over 9 years, while premiums for individuals purchasing insurance would increase 15-20% in 2018 and 2019.

The Trumpcare bill passed in the House on May 4, despite clashes between conservative and moderate members of the Republican Party and a lack of review from the CBO.

Speaker Paul Ryan (R-WI) that the bill would be passed to the senate for a vote in the coming weeks last Friday.

Passage in the Senate will be a more difficult hurdle, with Republicans holding a narrower majority there. Certain Rep. Senators have already stated that they want to start from scratch with a new healthcare bill.

The Republican’s bill is designed to repeal most Obamacare taxes, such as a penalty for not purchasing health insurance. It would cut funding for Medicaid and roll back Medicaid expansion.

The bill would also allow states to opt out of a popular Obamacare provision that prevents insurers from charging people with pre-existing conditions higher rates, as well as one that required insurers to cover 10 essential health benefits such as maternity care and prescription drugs.

Material from Reuters was used in this report.

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