CNBC: “Of the total estimated 16 million who could lose health coverage, that includes 7.8 million individuals on Medicaid and 8.2 million covered through the Affordable Care Act”
MADISON, Wis. – In case you missed it, CNBC highlights a new report that reveals how the Republican Tax Scam could force Wisconsin families into crushing medical debt while stripping healthcare coverage from millions of Americans. The proposal, which Congressmen Bryan Steil and Derrick Van Orden voted for in the House, could increase some families’ medical debt by as much as $22,800 by forcing 16 million Americans off their health insurance.
“Republicans in Congress are once again showing their true priorities – massive tax breaks for billionaires and corporations paid for by taking food and healthcare from working families. Whether it’s raising costs or ripping healthcare coverage away, the Republican Tax Scam will make it tougher for families and seniors to succeed,” said Opportunity Wisconsin Program Director Meghan Roh. “With 16 million Americans forced off of their health insurance, many of our neighbors will have no choice but to take on massive debt just to access the medical procedures and care they need to live. Wisconsin families don’t deserve to be saddled with debt, just so those at the top can receive new tax breaks they don’t need.”
CNBC: Health-care cuts in GOP’s budget bill may add up to $22,800 in medical debt for some families: Report
- The Republican budget bill proposes $1.1 trillion in cuts to health care that target both Medicaid and Affordable Care Act coverage.
- The Congressional Budget Office, or CBO, a nonpartisan legislative scorekeeper, projected that about 11 million people would lose health-care coverage due to provisions in the bill passed by the House of Representatives if it’s enacted in its current form. The CBO estimated that an additional 4 million or so would lose insurance due to expiring Affordable Care Act subsidies, which the bill doesn’t extend. Another 900,000 would lose coverage due to ACA rule changes the Trump administration proposed this spring.
- Of the total estimated 16 million who could lose health coverage, that includes 7.8 million individuals on Medicaid and 8.2 million covered through the Affordable Care Act, according to Third Way.
- Overall, medical debt would increase by $50 billion as a result of the budget bill changes — a 15% rise over today’s $340 billion in unpaid debts, according to Third Way.
- Without coverage, families may see their medical debts increase by as much as $22,800, according to Third Way’s report. About 87% of households that previously had no medical debt would accumulate an average of $22,800 in balances. Meanwhile, 13% of households may accumulate an additional average of $8,790 in medical debt on top of $13,490 in existing balances.
