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House Speaker Paul Ryan (R-Wisc.) and Senate Majority Leader Mitch McConnell (R-Ky.) are leading the push to repeal the Affordable Care Act, but a new new analysis such a move would jeopordize the insurance coverage of more than 30 million people.(Photo: Getty Images)
Repealing the Affordable Care Act (ACA) without replacing it could cost 32 million people their health insurance, according to a new estimate from the nonpartisan Congressional Budget Office (CBO) released Tuesday.
The CBO estimated that if Congress votes to repeal the ACA--also known as Obamacare--keeping insurance market reforms in place without implementing a new healthcare law, roughly 18 million people would lose their insurance within the first year, and premiums would rise by 20 to 25 percent for individual plans.
By 2026, the report found, 32 million people would be out of insurance.
Fewer than 2 million would be enrolled in the non-group market.
The CBO released its estimate in conjunction with staff of the Joint Committee on Taxation (JCT), in response to a request from Senate Minority Leader Chuck Schumer (D-N.Y.), Senate Finance Committee ranking member Ron Wyden (D-Ore.), and Senate Health, Education, Labor, and Pensions Committee ranking member Patty Murray (D-Wash.).
It comes just before confirmation hearings begin for Rep. Tom Price (R-Ga.), who is nominated for secretary of Health and Human Services.
Estimates were based on the Restoring Americans' Healthcare Freedom Reconciliation Act of 2015, an ACA repeal bill introduced by Republicans; the GOP has yet to announce any updated plan on replacing President Barack Obama's landmark healthcare law.
Despite having no replacement in line, both chambers of Congress--which are now under GOP control--passed resolutions earlier this month that brought the ACA one step closer to repeal.
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Repealing the Affordable Care Act (ACA) without replacing it could cost 32 million people their health insurance, according to a new estimate from the nonpartisan Congressional Budget Office (CBO) released Tuesday.
The CBO estimated that if Congress votes to repeal the ACA--also known as Obamacare--keeping insurance market reforms in place without implementing a new healthcare law, roughly 18 million people would lose their insurance within the first year, and premiums would rise by 20 to 25 percent for individual plans.
By 2026, the report found, 32 million people would be out of insurance.
Fewer than 2 million would be enrolled in the non-group market.
The CBO released its estimate in conjunction with staff of the Joint Committee on Taxation (JCT), in response to a request from Senate Minority Leader Chuck Schumer (D-N.Y.), Senate Finance Committee ranking member Ron Wyden (D-Ore.), and Senate Health, Education, Labor, and Pensions Committee ranking member Patty Murray (D-Wash.).
It comes just before confirmation hearings begin for Rep. Tom Price (R-Ga.), who is nominated for secretary of Health and Human Services.
Estimates were based on the Restoring Americans' Healthcare Freedom Reconciliation Act of 2015, an ACA repeal bill introduced by Republicans; the GOP has yet to announce any updated plan on replacing President Barack Obama's landmark healthcare law.
Despite having no replacement in line, both chambers of Congress--which are now under GOP control--passed resolutions earlier this month that brought the ACA one step closer to repeal.
Repealing the Affordable Care Act (ACA) without replacing it could cost 32 million people their health insurance, according to a new estimate from the nonpartisan Congressional Budget Office (CBO) released Tuesday.
The CBO estimated that if Congress votes to repeal the ACA--also known as Obamacare--keeping insurance market reforms in place without implementing a new healthcare law, roughly 18 million people would lose their insurance within the first year, and premiums would rise by 20 to 25 percent for individual plans.
By 2026, the report found, 32 million people would be out of insurance.
Fewer than 2 million would be enrolled in the non-group market.
The CBO released its estimate in conjunction with staff of the Joint Committee on Taxation (JCT), in response to a request from Senate Minority Leader Chuck Schumer (D-N.Y.), Senate Finance Committee ranking member Ron Wyden (D-Ore.), and Senate Health, Education, Labor, and Pensions Committee ranking member Patty Murray (D-Wash.).
It comes just before confirmation hearings begin for Rep. Tom Price (R-Ga.), who is nominated for secretary of Health and Human Services.
Estimates were based on the Restoring Americans' Healthcare Freedom Reconciliation Act of 2015, an ACA repeal bill introduced by Republicans; the GOP has yet to announce any updated plan on replacing President Barack Obama's landmark healthcare law.
Despite having no replacement in line, both chambers of Congress--which are now under GOP control--passed resolutions earlier this month that brought the ACA one step closer to repeal.