as declared in In total, CBO estimated that individual market premiums would rise by 20 percent and that 6 million people would lose individual market coverage by 2026.
Given their low incomes, the substantial majority of individuals losing Medicaid coverage would become uninsured, particularly in light of the reductions in financial assistance for individuals seeking individual market coverage discussed below.
Effects of Modifying the Structure of Subsidies for Individual Market CoverageThe legislation would also make additional major changes affecting the individual health insurance market.
That, in turn, would drive premium increases in the individual health insurance market, causing still further coverage losses.
For one, these amounts would be relatively modest in relation to total individual market premiums.
7 takeaways from the GOP health care plan to replace Obamacare
But we can draw a few initial conclusions about the plan, which the Republicans are calling the American Health Care Act, or AHCA.
Correction: Tax credits under the GOP plan will be $2,000 to $14,000 per year; this story originally specified a different time period.
The taxes from the 2010 health care law will be repealed.
As under Obamacare, children will be able to stay on their parents’ health insurance until they turn 26.
The Obama administration required insurance companies to cover basic care without exclusions; they called it “essential health benefits.”
Paul Ryan says he “can’t answer” how many will lose coverage under GOP health care plan
Asked in an interview with CBS’ “Face the Nation” approximately how many people will lose coverage if the American Health Care Act is passed, Ryan replied: “I can’t answer that question.
Are you going to stop mandating people buy health insurance,” Ryan said.
“If we just did nothing, washed our hands of the situation, we would see a further collapse of the health insurance markets.
As Republicans work to pitch their health care plan, House Speaker Paul Ryan said he can’t say how many people would lose coverage under the new legislation — and that it will be “up to people” to decide whether they want to purchase coverage.
It takes a little while to get the states back in the game to regulate health insurance,” he said.
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