CBO Says RINOcare Will Save Money, But at What Cost?
Monday, the Congressional Budget Office issued its “score” on the Republican establishment’s American Health Care Act—also known as RINOcare (Repeal In Name Only)—and the results won’t help Speaker of the House Paul Ryan, R-Wis., pick up any conservative or Democratic votes to get it passed.
For starters, it will save money. The CBO reports the legislation will benefit the federal government’s annual budget to the tune of about $337 billion a year by 2026. And, by eliminating taxes and providing tax deductions, it will reduce federal government revenue by approximately $1.2 trillion by the end of the decade.
On the other hand, RINOcare has two very worrisome side effects:
- Premiums—While they have more than doubled for most Americans under the current Affordable Care Act, also known as Obamacare, they will only fall by an average of 10 percent under the GOP proposal. And, according to the CBO score, the new plans under the American Health Care Act would cover less than what is covered now.
- Uninsured—While Obamacare was supposed to ensure no one went without health insurance coverage, 14 million remain uninsured. But, according to the CBO score, that number could quadruple over the next decade to 58 million due to refusals to buy plans, employees who lose employer-provided insurance plans and those who are otherwise knocked out of coverage.
“We believe that our plan will cover more individuals at a lower cost and give them the choices that they want for the coverage that they want for themselves and their family, not that the government forces them to buy,” Secretary of Health & Human Services Dr. Tom Price said after the score was released. He also noted the CBO score only applies to the legislation as-is and doesn’t contemplate the impacts of additional legislation Republicans may enact later.
Democrats blasted the bill, as expected. But conservatives remain firmly committed to pushing for the same repeal bill Congress passed in 2015 that was later vetoed by President Barack Obama. President Donald Trump, on the other hand, is still lending his support to RINOcare.
“The House plan will expand choice, lower cost and ensure healthcare access for all,” he said. “We’re negotiating with everybody. It’s a big, fat, beautiful negotiation, and hopefully we’ll come up with something that’s going to be really terrific.
“I want to thank Paul Ryan and everybody—[Senate Majority Leader] Mitch [McConnell], everybody, they’re all working around the clock. And I think ultimately the big beneficiary will be the American people. We’ll end up with a really great health care plan.” {eoa}
