While Republicans are preparing to vote in their proposed revision to the Affordable Care Act in Congress later this month, a new report from the Congressional Budget Office projects that 24 million Americans would lose healthcare coverage over the next decade under the proposal, The Hill reports.
The GOP alternative to the ACA was met with harsh criticism from Democrats and Republicans alike when it was introduced last week, but the CBO's report, a non-partisan analysis, shows just how severely the proposed bill could effect healthcare coverage for Americans going forward.
The losses in coverage — 14 million uninsured by 2014 with that number rising to 24 million by 2028 — are primarily due to the proposed changes to the Medicaid system. The bill would end extra funds for the expansion of Medicaid and places a cap on federal spending for the program.
The report also finds that individual health insurance premiums would increase until 2020, followed by a decrease, and higher deductibles. Under the new bill, insurance premiums would substantially reduce for young people over time, while costs for older individuals would increase. Financial assistance for low-income individuals that existed under the ACA would be repealed under the GOP plan. The proposed plan would also halt all Medicaid reimbursements to Planned Parenthood for one year.
"The CBO's estimate makes clear that TrumpCare will cause serious harm to millions of American families," Senate minority leader Chuck Schumer said in a statement on Monday.
Speaking to the press last week, Sean Spicer said that the CBO projections about the ACA had been “way off.”
The proposed healthcare plan has passed through two House committees and is expected to reach the House floor for a vote by the end of March.