June 26, 2017 (WASHINGTON) The Congressional Budget Office released the score on the H.R. 1628, Better Care Reconciliation Act of 2017. They found that under the act 22 million Americans will lose access to healthcare over the coming decade. The House version meant 23 million. However, this is not a good number for the Senate.
However, according to the report: “CBO and JCT estimate that, over the 2017-2026 period, enacting this legislation would reduce direct spending by $1,022 billion and reduce revenues by $701 billion, for a net reduction of $321 billion in the deficit over that period.”
This is how it does it:
There is more. They expect real effects in premiums. From the report: “The legislation would increase average premiums in the nongroup market prior to 2020 and lower average premiums thereafter, relative to projections under current law, CBO, and JCT estimate.” It will also hit older people the hardest.
There is also a mandate to carry insurance, even if it is not called that way. The fact that they will punish people who do not have continuous coverage with an inability to obtain it for six months, is a mandate of sorts. Nobody is getting fined, but if you do not have insurance, we will not cover you for anything for six months. We also will see a return to lifetime caps, as well as yearly caps. We are also expecting to see essential services, such as hospitalization and drug formularies, dropped from the bill
The effects of the bill are severe and most of those effects will start to be obvious after 2020. It is also possible that with the severe reduction of Medicaid, many seniors will be forced off nursing homes. As the population ages, this will become an increasing concern.