Statement: CBO Report Confirms ACA Repeal Legislation Will Reduce Health Coverage, Care and Undermine MedicarePosted in Media, Press Release
14 million people will become uninsured in 2018 if the proposed Affordable Care Act repeal legislation becomes law according to yesterday’s Congressional Budget Office (CBO) Report, (3/13/2017). The American Health Care Act proposal, which has passed two key committees in the House of Representatives, would cause 24 million people to lose coverage by 2026 and cut Medicaid by $880 billion over the next ten years. In addition, the proposal would reduce Medicare payroll taxes for high-income earners. As a consequence, Medicare’s financial stability will be undermined and its long-term solvency will be reduced by at least three years.
The CBO Report confirms the proposed legislation endangers the health of older adults, people with disabilities, and their families, while giving millionaires and corporations massive tax cuts. Low income older adults would be among the hardest hit by the American Health Care Act, with 60 – 64 year-olds particularly in danger of losing coverage. The ACA repeal legislation would increase Medicare spending by $43 billion over 10 years, but cut Medicare revenue by almost $120 billion.
“The Center for Medicare Advocacy strongly opposes the American Health Care Act;” says Judith Stein, the organization’s Executive Director. “Indeed, it is hard to call this a health care bill. It would strip away health insurance from millions of people, decimate the Medicaid program, put Medicare’s future at risk, and increase health care costs, especially for older people, children and their families. The bill is about ending Medicaid as we know it, putting Medicare on a path to the same fate, and cutting high-income taxes. In short, this bill does not advance quality health coverage and care. It will make America sicker.”
The full CBO analysis of American Health Care Act is available at: https://www.cbo.gov/sites/default/files/115th-congress-2017-2018/costestimate/americanhealthcareact.pdf