According to the Congressional Budget Office’s Report, the new Republican proposed Healthcare bill would increase healthcare costs on people 64 and older by 750%.
The bill does bring down overall premiums in the individual market by about 10 percent by 2026 compared with what they would be under current law, the CBO found. But the CBO includes a big caveat: This would greatly differ based on age and income.
The CBO offers an example of a single individual with an annual income of $26,500.
If that person is 21 years old, he’ll largely benefit from the Republican health care bill. Under the Affordable Care Act (also known as Obamacare), he would on average pay $1,700 in premiums for insurance. Under the Republican plan, he would pay $1,450.
But if that person is 64 years old, he would be hurt by the Republican bill. Under Obamacare, he would also pay $1,700 in premiums for insurance. But under the Republican bill, he would pay $14,600 — more than half his annual income. That amounts to more than a 750 percent increase in premiums from Obamacare to the Republican bill.
Republicans are repealing Obamacare and millions of Americans will be left without healthcare once again. I guess this is their idea of “Making America Great Again!”
House Speaker and vocal proponent of the repeal and replace process, Paul Ryan, was asked to comment on home many people would lose their healthcare under the proposed GOP plan. Ryan could not answer.
“I can’t answer that question,” Ryan told CBS News’s “Face the Nation,” when asked how many people will lose healthcare coverage. “It’s up to people.”
“Here’s the premise of your question: Are you going to stop mandating people buy health insurance? People are going to do what they want to do with their lives because we believe in individual freedom in this country.”
The GOP last week unveiled two measures to repeal and replace ObamaCare. While the new plan would get rid of some components of ObamaCare, it would keep other parts in place.