Washington, D.C. — A Republican bill to repeal and replace former-President Obama’s signature healthcare bill will lead to 14 million fewer Americans with health insurance by 2018, according to a new report by the non-partisan Congressional Budget Office.
The CBO said Monday in an analysis the number of uninsured Americans would further increase to 24 million by 2026, according to a report by USA Today.
Most of the initial increase in 2018 will come from consumers deciding not to buy health insurance because there would no longer be a penalty for not doing so, according to the CBO.
Another reason for the increase in numbers was the increasing cost of health insurance premiums over the next two years, the CBO said.
The CBO projected the bill would raise the average premiums until 2020, and then lower them after that.
According to the CBO, by 2026, the premiums would be 10% lower that under the existing Affordable Care Act.
The Republican bill would also reduce federal deficits by over $300 billion over the 2017-2026 period, the CBO report said. The biggest savings will be the elimination of ACA insurance subsidies for low-income Americans and reductions in outlays for Medicaid.
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