Congressional Budget Office Report: 24 Million Fewer Americans Would Have Health Insurance Under Trumpcare

Mar 15, 2017 Issues: Immigration Reform, Social Services

WASHINGTON, D.C.—Rep. Rick Larsen (WA-02) today released the following statement after the nonpartisan Congressional Budget Office released its much-anticipated score detailing projected impacts of Trumpcare, the GOP health care bill to repeal and replace the Affordable Care Act.

The report found that under Trumpcare, 24 million fewer Americans would have health insurance over the next decade, average healthcare premiums would rise by 15-20% over the next two years and critical federal healthcare funding to states would be cut by $880 billion. Previous reports from the Joint Committee on Taxation show that Trumpcare will also provide a $600 billion tax break – primarily for the wealthiest Americans.

“Trumpcare will cover 24 million fewer people, increase average premiums by 15-20% over the next two years and defund Planned Parenthood – all to give a $600 billion tax break to the rich,” said Larsen. “The numbers are in and they paint a clear picture: by any meaningful measurement such as health care quality, coverage, or cost, Trumpcare is a disaster when compared against the Affordable Care Act. Instead of improving upon current lawwhich reduced the deficit and resulted in the lowest uninsured rate in American history – President Trump and Speaker Ryan have devised a scheme that would leave tens of millions of people without health coverage while giving a tax break to the super wealthy.

Key provisions of Trumpcare include repealing the individual mandate, doing away with Affordable Care Act tax credits that low- and middle-income families rely on to afford health insurance, phasing out critical federal healthcare resources for states and repealing the taxes on wealthy Americans which currently finance the Affordable Care Act.  The legislation also reduces the quality of healthcare by removing health insurance benefit requirements for some lower-income Americans, which could also exacerbate the opioids crisis by leaving up to 1.3 million people without access to substance abuse services.

In addition to the cost of premiums rising 15-20% by 2019, Trumpcare’s age-based tax credit would result in deep cuts to the tax credits that help low-income and elderly individuals afford health insurance. Trumpcare would compound these cuts by allowing insurance companies to further increase premiums for seniors.

Since January, Larsen has held Affordable Care Act “Town Talks” in six towns and cities across Northwest Washington – hearing from more than 800 constituents in Mountlake TerraceBellinghamMarysvilleAnacortesLangley and Sedro-Woolley.

After hearing from more than 15,000 constituents, Larsen voted in support of the Affordable Care Act in 2009 – citing its improvements to Medicare benefits for seniors, bans on discrimination based on pre-existing conditions, and potential to expand health care coverage for those who need it most.  

 

 

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