A Republican Senate bill to repeal Obamacare would cause 17 million fewer people to have insurance within one year, premiums to jump by 25 percent, and insurers to pull out of counties across the country, according to a new report by the nonpartisan Congressional Budget Office.
The legislation, dubbed the Obamacare Repeal Reconciliation Act, would eliminate Obamacare’s taxes and, starting in 2020, cut off funding for its Medicaid expansion and for federal subsidies to buy private insurance. It would also end the individual mandate that penalizes people for not having insurance. The bill would reduce deficits by $473 billion over the next decade.
After 2020, the CBO estimates, half of the nation’s population would live in a county where there were no insurers at all in the individual market, NBC News reports. By 2026, 32 million fewer people would have insurance compared to Obamacare and premiums would have doubled.