As the House of Representatives gets set to vote again on repealing the Affordable Care Act (ACA), commonly referred to as Obamacare, consumers are still unsure of the impact to their healthcare. The vote will come almost two months after the aborted first vote on bill.
House Democratic Leader Rep. Nancy Pelosi noted that the new bill had not yet been analyzed by the Congressional Budget Office (CBO), which will ultimately estimate what the bill will cost, as well as how it will affect premiums and the number of people covered by insurance.
A previous analysis by the CBO on the effects of repealing the ACA, indicated it would impact millions of Americans.
The Congressional Budget Office (CBO) has analyzed the effects of healthcare repeal, and estimates 32 million Americans will lose health coverage if a repeal plan, like the one passed in 2015 by Congress, were to become law. The non-partisan Congressional Budget Office is responsible for scoring the impact of legislation on the deficit.
The study shows the number of people who are uninsured would increase by 18 million in the first plan year following enactment of the bill. The CBO also estimated that premiums for policies purchased through the marketplaces or directly from insurers would increase by 20 to 25 percent that year. The elimination of the ACA’s expansion of Medicaid eligibility and of subsidies for insurance purchased through the ACA marketplaces would increase that number to 27 million in following years, and then to 32 million in 2026.
Medicare and Medicaid enrollees may also see the stresses of change with possible increases in premiums and deductibles. The bill’s effects on insurance coverage and premiums would be greater once the repeal of the Medicaid expansion and the subsidies for insurance purchased through the marketplaces took effect, roughly two years after enactment.
With the loss of insurance coverage, many patients will no longer be able to afford the prescription medicines they need to stay healthy. ScriptSave® WellRx can help.
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More than half a million people already take advantage of the savings through ScriptSave WellRx. It’s available free on the web (www.wellrx.com) and as Apple and Android apps. WellRx enables individuals to compare prices for prescription drugs at local pharmacies, look up drug information, and consult with a pharmacist about their medications.
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