President Obama got the ultimate political win today, as the CBO’s updated ACA projections delivered a drubbing to years worth of Republican Obamacare lies.
Here are the new estimates via the CBO:
CBO CBO and JCT estimate that the insurance coverage provisions of the ACA will increase the proportion of the nonelderly population with insurance from roughly 80 percent in the absence of the ACA to about 84 percent in 2014 and to about 89 percent in 2016 and beyond (see Table 2). CBO and JCT project that 12 million more nonelderly people will have health insurance in 2014 than would have had it in the absence of the ACA. They also project that 19 million more people will be insured in 2015, 25 million more will be insured in 2016, and 26 million more will be insured each year from 2017 through 2024 than would have been the case without the ACA.
Those gains in coverage will be the net result of many changes in insurance coverage relative to what would have occurred in the absence of the ACA. In 2018 and later years, 25 million people are projected to have cover- age through the exchanges, and 13 million more, on net, are projected to have coverage through Medicaid and CHIP than would have had it in the absence of the ACA. Partly offsetting those increases, however, are projected net decreases in employment-based coverage and in coverage in the non group market outside the exchanges.
Relative to their previous projections made in February 2014, CBO and JCT now estimate that the ACA’s coverage provisions will result in lower net costs to the federal government: The agencies currently project a net cost of $36 billion for 2014, $5 billion less than the previous projection for the year; and $1,383 billion for the 2015-2024 period, $104 billion less than the previous projections.
In plain English, 12 million more people will have health insurance that didn’t have it before, and the ACA is going to cost $104 billion less than previously projected. This is a huge win for President Obama and the ACA. The numbers are demonstrating that Republicans were completely and absurdly wrong about the impact of healthcare reform.
The CBO also released a table which shows a world with Obamacare, and a world without it, or the top part of the table is what Democrats have given the country, and the bottom is what things would look like if Republicans had their way:
The big takeaway is that Republicans want more people to go without healthcare. By 2024, the CBO estimates that 89% of Americans will have health insurance. This won’t be universal coverage, but it will be the closest we have ever been to everyone having access to healthcare.
Republicans have claimed for years that Obamacare will add to the deficit. The CBO said no. Republicans claim more people are losing health insurance than are getting it. The CBO slapped them upside the head with some cold hard facts. Republicans believe that Obamacare will collapse in on itself due to not enough people signing up, the CBO found that 12 million uninsured Americans will have access to healthcare in 2014 thanks to the ACA.
This report delivered an absolute drubbing to every Republican claim about the ACA. Republicans are about to make the case to 12 million uninsured Americans that they don’t need healthcare.
Republicans put all of their eggs into the repeal Obamacare basket, but now the basket has a big hole in the bottom, and the eggs are all over the GOP’s faces.