The current proposal plan to replace the Affordable Care Act would transfer $337 billion in costs from the government to the citizens over the next 10 years and leave 14 million more people without insurance next year compared with current law, according to an analysis by the nonpartisan Congressional Budget Office (CBO) released today. The CBO produced the most accurate economic forecasts of the impact of health care reform over the past decade.
Most of the government’s cost savings will be derived by cutting payments for the poor who are covered through Medicaid.
Much of the cost of health care would shift from government to individuals. A 60-year-old with annual income of $30,000 would be financially crushed by the impact of this law.
The number of uninsured would rise to the highest levels in our lives, surpassing 1 in 6 Americans.
Insurance premium rates would rise 15% to 20% per year in the near term and then decrease by 10% in 2020.
The geographic impact of the law is illustrated in this chart from LA Times. Republicans living in the middle of the country would be hardest hit by the financial changes.
Low and middle income Republicans living in the middle of the country would be hurt most by this law.
This short video by LA Times summarizes the impact of the proposal.