The Cost Of Repealing The Healthcare Law
Moving America forward on implementing healthcare reform
The efforts of Republican politicians to repeal the Affordable Care Act in its entirety have not--and will not-- slow down the benefits of the law that are already making a difference for millions of Americans.
Senate Majority Leader Reid and President Obama have made clear that they will protect healthcare reform by preventing the repeal bill from becoming law, and we fully expect the Affordable Care Act will be upheld in its entirety and deliver on its promise of quality, affordable healthcare for all Americans.
However, we cannot take House Republicans' intent lightly--we must promote and protect the historic healthcare reform law we fought so hard to pass. Here are the facts...
What We Stand To Lose By Going Backwards
At a time when American businesses are struggling and families are hurting, experts have found that moving our current health care law forward will decrease our deficit and create millions of new jobs by reducing the costs of health care for employers, allowing them to expand their workforce.
However, If Republicans in Congress were to get their way on repeal,
The cost of caring for the uninsured is unsustainable for taxpayers, unsustainable for state budgets and unsustainable for our healthcare system. The Affordable Care Act will reduce these costs by making sure that everyone pays their fair share for their healthcare, or for those who cannot afford it, providing financial help to families earning up to $88,000 a year to make healthcare more affordable.
- Insurers would be able to go back to dropping your coverage just because you get sick and
- denying coverage to children with pre-existing conditions.
- Seniors would lose help paying for their prescriptions and
- Small businesses would lose tax credits for offering coverage to their workers.
The Price of Repealing the Affordable Care Act
Thanks to the Affordable Care Act, thousands of working families in our state have the freedom from fear that comes from knowing that their gravely ill child will not be denied healthcare coverage. Thousands more seniors have freedom from poverty thanks to savings the law delivers on prescription drugs. And many more working women and men have the freedom that comes with knowing they will not be powerless in the face of skyrocketing healthcare premiums.
According to a preliminary analysis from the Congressional Budget Office (CBO), if Republicans were to succeed in passing the "Repealing the Job-Killing Health Care Law Act" (H.R. 2), here are some specific numbers on what Americans stand to lose.
- 32 million Americans would lose coverage
Compared to the current law, "under H.R. 2, about 32 million fewer non-elderly people would have health insurance in 2019, leaving a total of about 54 million non-elderly people uninsured. (CBO cost estimate, pgs. 8-9)
- The deficit would increase by $230 billion over 10 years
"Over the 2012-2021 period, the effect of H.R. 2 on federal deficits as a result of changes in direct spending and revenues is likely to be an increase in the vicinity of $230 billion...(pg. 5)
- Average healthcare benefits would be worse
"In particular, if H.R. 2 was enacted... the average insurance policy in this market would cover a smaller share of enrollees' costs for health care and a slightly narrower range of benefits." (pg .9)
- Individuals would pay more for insurance
[...] "Under H.R. 2 than under current law, many people would end up paying more for health insurance-- because under current law, the majority of enrollees purchasing coverage in that market would receive subsidies via the insurance exchanges, and H.R. 2 would eliminate those subsidies." (pg. 9-10)
- Premiums for employer-sponsored insurance plans would increase in cost
"Premiums for employment-based coverage obtained through large employers would be slightly higher under H.R. 2 than under current law, reflecting the net impact of many relatively small changes." (pg. 10)
For more information on the price of repealing the Affordable Care Act, see http://www.healthcare.gov/news/factsheets/repealcosts.html.
Repeal: A Job Killer
- Increase medical spending by $125 billion by 2010
- Add nearly $2,000 annually to family insurance premiums by the end of this decade
- Destroy more than 200,000 jobs in manufacturing and nearly 900,000 jobs in nonhealth care services by 2016.
- Reduce the share of workers who start new businesses, move to new jobs, or otherwise invest in themselves and the economy
Republicans' Hypocrisy on Healthcare
"We will put forth a clean repeal bill of ObamaCare and you'll continue to see us make that fight, because that's what the American people want us to do."
- Rep. Michele Bachman (R-MI) on CBS's "Face the Nation."
Republicans are framing repeal as something that voters want and have demanded. This is incorrect. Repealing healthcare reform is the last thing that struggling Americans need or want. When individual protections in the health insurance law are described, nearly two-thirds of Americans do not want them taken away. [CNN/Opinion Research Poll, 12/17-19/2010]
While Republicans in Washington want to let the insurance companies take away the American people's health care, they won't give up their own. Nearly all Republicans who want to repeal the health care law refuse to give up their own government-funded health insurance. And on Wednesday, January 5th, Republicans voted down a proposal offered by Rep. Joseph Crowley (D-NY) that would have required members to disclose the source of their insurance coverage.
Republicans are also hypocrites when it comes to the deficit. House Republicans claim they want to reduce government spending and shrink the deficit. The nonpartisan Congressional Budget Office estimates the Affordable Care Act will cut the deficit by roughly $143 billion over the next 10 years. House Republicans' plan to repeal healthcare reform would increase the deficit by approximately $230 billion by 2021, according to a preliminary analysis from the Congressional Budget Office.