Premiums Will Increase by 20 Percent If Trump Cuts Key Obamacare Funds: CBO - NECN
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Premiums Will Increase by 20 Percent If Trump Cuts Key Obamacare Funds: CBO

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    Premiums Will Increase by 20 Percent If Trump Cuts Key Obamacare Funds: CBO
    Alex Brandon/AP (File)
    FILE - President Donald Trump speaks about the health care vote during a joint news conference with Lebanese Prime Minister Saad Hariri in the Rose Garden of the White House in Washington, July 25, 2017.

    The Congressional Budget Office says Obamacare premiums will increase by 20 percent next year and by 25 percent in 2020 — if President Donald Trump ends key federal subsidies to the program.

    The CBO report released Tuesday also found that if the administration moves to cut the billions in subsidies to insurers, that would leave about 5 percent of Americans living in areas with no access to individual health care plans.

    As CNBC reports, Trump has repeatedly threatened to end the billions of dollars in payments to insurance companies that sell individual health plans under the Affordable Care Act.

    Insurers have warned they will be forced to raise premiums sharply to make up for the loss of cost-sharing reductions payments, or CSRs, if Trump cuts them off.