The Congressional Budget Office (CBO) released its analysis of the Republican leadership's Obamacare replacement bill Monday afternoon.
The CBO estimates that the bill would reduce the national deficit by $337 billion over a ten year period. The deficit reduction is attributed to cuts to Medicaid spending and ending tax credits of the Affordable Care Act.
The CBO asserts that if enacted, 14 million more people would be uninsured in 2018 than the amount projected to be uninsured under the ACA.
The number of uninsured Americans is projected to rise to 21 million additional people in comparison to the ACA by 2020, and would reach 24 million more people than expected under the ACA by 2026.
The report asserts that more people would be uninsured because of the proposed elimination of an Obamacare rule that required individuals to pay a fine if they did not have health care coverage.
Premiums would rise between 15 to 20 percent in the first two years of the law's enactment, but would begin to drop afterward. Premiums in 2020 are projected to be 10 percent less expensive under the replacement bill than under Obamacare.
Premiums for seniors would likely rise, however, due to a provision that eliminates an ACA rule preventing insurers from charging older people more than three times the amount that the companies charge younger adults for insurance. The ratio under the replacement plan would jump to 5:1, which would reduce premiums for young adults while increasing them for seniors significantly.
The entirety of the CBO report can be read here.