I noted yesterday that, in its own quiet way, the Congressional Budget Office gave the Republicans’ health care bill a failing grade: A package seemingly meant to address the problem of the uninsured that does almost nothing to expand insurance or lower premiums.
But somehow, someway, conservatives don’t seem to have noticed. In fact, they’re celebrating!
“As a result of the House Republican bill, the non-partisan Congressional Budget Office now confirms that families will see their health care premiums reduced by up to 10 percent and hard-working taxpayers can expect deficits to decrease by $68 billion over the next decade,” reads a statement from Rep. Mike Pence (R-IN).
“By 2019, CBO and JCT estimate, the number of nonelderly people without health insurance would be reduced by about 3 million relative to current law, leaving about 52 million nonelderly residents uninsured. The share of legal nonelderly residents with insurance coverage in 2019 would be about 83 percent, roughly in line with the current share.”
And: “[I]n the large group market, which represents nearly 80 percent of total private premiums, the amendment would lower average insurance premiums in 2016 by zero to 3 percent compared with amounts under current law, according to CBO’s estimates.”
Where does Pence get his numbers?
CBO says, “In the small group market, which represents about 15 percent of total private premiums, the amendment would lower average insurance premiums in 2016 by an estimated 7 percent to 10 percent compared with amounts under current law. In the market for individually purchased insurance, which represents a little more than 5 percent of total private premiums, the amendment would lower average insurance premiums in 2016 by an estimated 5 percent to 8 percent compared with amounts under current law.”
So, if you spend $12,000 out of pocket every year for insurance on the individual market, the House bill could bring that burden down to a measly $11,040, and would do nothing to prevent you from going bankrupt if and when your policy gets canceled or you hit your annual or lifetime benefits cap.
Here’s how the conservative Washington Examiner described it: “CBO: Republican health plan would reduce premiums, cut deficit.”
Not false, but not exactly edifying, either. A more accurate headline might be: “CBO: Republican health plan proves that, for a very low price, you can insure almost nobody, and keep premiums sky high.”
