The discussion over the bill has reached fever pitch as Republican senators push for a vote before July 4.
Four million people who now get insurance from their employer are expected to lose coverage by next year, in part because eliminating financial penalties imposed on companies that don’t provide those benefits will cause some of them to shrug their shoulders and decline to offer coverage altogether. Ted Cruz, Utah Sen.
The Senate must not rush legislation that would throw them into peril. And if it were the greatest bill ever proposed in mankind, we wouldn’t get a vote and that’s a bad thing.
The highly anticipated score answers key questions about the impact of the Senate’s controversial legislation made public last Thursday.
Before the budget office released its report on Monday, the American Medical Association officially announced its opposition to the bill, and the National Governors Association urged the Senate to slow down. The updated bill would impose a six-month waiting period on individuals who buy insurance but let their coverage lapse for more than 63 days in the prior year.
The bill, should it become law, would be a negative for hospitals and doctors.
Those hardest hit would be lower income Americans and the elderly, the office said. It eliminates the individual mandate that forced people to get health insurance, repeals Obamacare taxes on insurers and the wealthy, and gives states more power to administer their own Medicaid programs. One of its biggest members, Anthem Inc. According to the CBO, that would open the door for higher deductibles and out-of-pocket costs. A 64-year-old with an income of $56,800 would pay $6,800 for a silver plan under current law. Based on CBO projections, that amounts to an nearly $5,000 increase in annual premiums by 2026, all for plans that cover 12 percent less than they do under Obamacare. In 2020, the average premium for the benchmark plan would be about 30% lower than under current law, mainly because those policies would cover fewer benefits – and come with much higher deductibles – and because insurers would receive federal funds created to lower rates.
He says: “I would like to delay the thing”.
Why doesn’t the CBO measure coverage losses beyond the 10 years? And it would keep more of Obamacare’s insurance regulations than the House legislation. A “bronze” plan that would be used as a benchmark in the law comes with an average $6,000 deductible.
The analysis found that the Senate’s bill would result in a whopping 22 million fewer Americans without health insurance by 2026.
The Senate is now considering a new version of the bill, which has faced fierce criticism from politicians on both sides of the aisle.
Shortly after that score came out, Maine Republican Senator Susan Collins took to Twitter to say she will vote no. “It makes me want to explore this more“. At least four GOP Senators-a mix of moderates and conservatives-have expressed reservations about the BCRA in its current form. The Senate bill would save $321 billion over a decade, more than the House bill’s $119 billion reported by the CBO last month. Not including changes to Social Security, which is technically off-budget, the Senate amendment would save $331 billion.