Insurance Premiums Could Double if ObamaCare Repealed

Within 10 years of Republicans dismantling the Affordable Care Act, 32 million more Americans could be uninsured and individual insurance premiums could double, according to a report from the nonpartisan Congressional Budget Office. The report, requested by Democrats, is based on 2015 legislation to repeal ObamaCare passed by Congress but vetoed by President Obama, Politico reports. According to the New York Times, the CBO states the result of repealing major parts of the ACA—penalties for not having insurance, expanding Medicaid, ending subsidies for low-income people—would have immediate negative consequences that only "worsen over time." The report found that in the first year 18 million people could lose insurance and premiums could increase by 25%.

While the CBO's estimates jibe with those from insurance companies and the Obama administration, Republicans argue the report is one-sided because it doesn't take into account an ObamaCare replacement. A spokesperson for Mitch McConnell tells Politico that repealing the ACA without replacing it is a "situation that simply doesn't exist." However, Republicans in Congress have yet to introduce any sort of replacement plan. And New York Magazine reports Newt Gingrich has already suggested doing away with the CBO over—in the magazine's words—its "inconvenient budget math." (More Affordable Care Act stories.)