The Congressional Budget Office’s (CBO) report confirms that American Health Care Act (a.k.a. Trumpcare) will cut funding to Medicaid by $834 billion over the next decade, seriously impacting millions of American seniors. The House-passed measure would end the Medicaid program as we know it by imposing per capita caps and block grants, leaving states with inadequate funding to serve the health care and long-term services and support needs of older adults. In total, the CBO predicts that 23 million Americans will become uninsured by 2026. According to the CBO, one rule change under the plan, effective in 2019, "would directly alter the premiums faced by different age groups, substantially reducing premiums for young adults and raising premiums for older people." The CBO score confirms that the last minute changes to the Trumpcare bill will create higher premiums and worse coverage for adults ages 50-64. For example, a single 64-year old with an income of $26,500 would have to pay a staggering $13,600 a year in premiums, more than half of what he has available to live on. That, compared to $1,700 a year under the Affordable Care Act (ACA, a.k.a. Obamacare), is an increase of more than 800 percent. Those premium estimates break down this way in 2026: A 64-year-old with $26,500 in income would pay a net premium of $1,700 under current law. That would spike to $16,100 in a state requesting no waivers and $13,600 in a state requesting "moderate" changes to regulations. A 64-year-old with $68,200 in income would see a much smaller effect. A net premium of $15,300 under current law would rise to $16,100 in a state requesting no [...]
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5/26/17 5:26 PM