CBO: "Tremendous Amount of Uncertainty" for Law's Impact on Employer-Sponsored Healthcare
The nonpartisan Congressional Budget Office yesterday released another report bearing bad news about the president's controversial health care law. This new analysis projects that, under the worst case scenario, as many as 20 million Americans could lose their employer-based health insurance as a result of the law. The report comes one day after CBO released an analysis that the gross cost of the law has increased to $1.8 trillion, and job creators and individuals will be paying an additional $99 billion in penalties and fees. President Obama repeatedly promised during the health care debate, "if you like your current plan, you will be able to keep it." Even under CBO's "best estimate," President Obama will have broken his promise to 3 million to 5 million Americans each year, but unfortunately that number could be much higher.
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"As many as 20 million Americans could lose their employer-provided coverage because of President Obama's healthcare reform law, the nonpartisan Congressional Budget Office said in a new report Thursday...
"...The best estimate, subject to a 'tremendous amount of uncertainty,' is that about 3 million to 5 million fewer people will obtain coverage through their employer each year from 2019 through 2022...
"... Under CBO's best estimate, 11 million mostly low-wage workers would lose their employer coverage. About 3 million would choose to drop their coverage to go into the new subsidized health exchanges or on Medicaid, while another 9 million would gain employer-sponsored coverage, for a net total of 5 million people losing employer coverage in 2019."