Politics

CBO: GOP Plan Would Spike Premiums, Cut 32M From Insurance Rolls

Senate Majority Leader Mitch McConnell, R-Ky., is pressing forward with a vote on his plan to reorder the U.S. health insurance system. On Wednesday, the Congressional Budget Office estimated his latest iteration of that measure would result in 32 million fewer people with insurance compared to under current law. (Bill Clark/CQ Roll Call File Photo)

A new Senate GOP health care plan would result in 32 million more people without health insurance, according to a Congressional Budget Office analysis released Wednesday. The measure, similar to a 2015 bill passed by the Senate, would save $473 billion over a decade.

According to the analysis from Congress’ nonpartisan budget scorekeeper, average premiums in the individual marketplace would increased by about 25 percent next year, increasing to 5o percent by 2020 and 100 percent by 2026.

“Under this legislation, about half of the nation’s population would live in areas having no insurer participating in the nongroup market in 2020 because of downward pressure on enrollment and upward pressure on premiums. That share would continue to increase, extending to about three-quarters of the population by 2026,” CBO wrote on its website. 

The analysis comes hours after President Donald Trump urged senators not to abandon health care talks and to send him a bill to repeal the 2010 health care law before leaving for the August recess. The GOP-led Senate passed the 2015 bill knowing it would be vetoed by President Barack Obama.

Majority Leader Mitch McConnell changed strategies when it became clear that there aren’t enough Republicans to pass a Senate bill to repeal and replace the 2010 law, setting up a test vote next week on repeal-only legislation. The CBO estimate is specifically of an amendment that will be offered as a substitute to the House-passed health care bill.

Get breaking news alerts and more from Roll Call on your iPhone or your Android.