Tuesday, January 17, 2017

CBO-JCT Combined Impact Report of Repealing Obama-care in One Word: Duck...!!!

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Combined synopsis from NY Times and Fiscal Times about repealing the ACA (Obama-care) impact:
The nonpartisan CBO said today (see their .pdf 4 page report here) (January 17, 2017) that repealing major provisions of the Affordable Care Act, while leaving other parts in place, would cost 18 million people their insurance in the first year and could increase the number of uninsured Americans by 32 million in 10 years, while causing insurance premiums to double over that time.
A little more than a year ago, the Congressional Budget Office (CBO) and the staff of the Joint Committee on Taxation (JCT) estimated the budgetary effects of H.R. 3762 (Restoring Americans’ Healthcare Freedom Reconciliation Act of 2015), which would repeal portions of the Affordable Care Act (ACA) — eliminating, in two steps, the law’s mandate penalties and subsidies but leaving the ACA’s insurance market reforms in place.
1.  Eliminate the tax penalties for people who go without insurance.
2.  Eliminate spending for the expansion of Medicaid and subsidies that help lower-income people buy private insurance.
3.  Requires insurers to provide coverage at standard rates for any one even regardless of pre-existing medical conditions.
4.  Eliminating the mandate penalties and the subsidies while retaining the market reforms would destabilize the non-group market, and the effect would worsen over time.
Estimates an increase of 32 million people without coverage by 2026 results due to three changes.
(1) 23 million fewer people would have coverage in the individual insurance market.
(2) 19 million fewer people would have Medicaid coverage.
(3) Those changes would be partly offset by an increase in the number of people with employment-based insurance (so, would more employers pick up that slack).

My conclusion for what it’s worth: GOP changes that Trump insists on immediately implementing surely takes us back to the pre-ACA (Obamacare) years and thus “Back to the Future” as it were. So, where are Marty McFly and Doc Brown – fire up the DeLorean, boys, we have a new trip planned in this version of the GOP's installment.
And, hang on tight – wow – talk about “Death Panels” they are coming for sure. Seems that Palin was right all along, um (but for the wrong party).

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