Health Care Saves lots of Money, Angers Republicans

It was a BAD news day for free market Republicans like Rep. Paul Ryan. The right wing snow job machine sputtered to a halt after the latest actuarial from the CBO. The NY Times reported:

The Congressional Budget Office said that the Senate health bill could significantly reduce costs for many people who buy health insurance on their own, and that it would not substantially change premiums for the vast numbers of Americans who receive coverage from large employers.

Before taking account of federal subsidies to help people buy insurance on their own, the budget office said the bill would tend to drive up premiums. But as a result of the subsidies, it said, most people in the individual insurance market would see their costs decline, compared with the costs expected under current law. The subsidies ... would cover nearly two-thirds of premiums for people who receive them.

For most people who get health insurance through employers — five-sixths of the total market — the budget office concluded that there would be little change in their premiums relative to the amounts projected under current law.

But the plan isn't perfect, like the current for profit system we have now, so Republicans whined anyway.

Sen. Grassley said “For large and small employers that have been struggling for years with skyrocketing health insurance premiums, C.B.O. concludes this bill will do little, if anything, to provide relief.”

Under the legislation ... For people receiving subsidies, the budget office said, premiums would be 56 percent to 59 percent lower than under current law. Without subsidies, it said, premiums under the bill would average $5,800 a year for individuals and $15,200 a year for families ... Under current law, the comparable figures would be $5,500 and $13,100.

In groups with 50 or fewer employees, it said, unsubsidized premiums in 2016 would average $7,800 a year for individuals and $19,200 for families — scarcely any different from the amounts expected under current law.

Large employers would generally not be eligible for such assistance. Their premiums in 2016 under the bill would average $7,300 for individual coverage and $20,100 for family coverage, the report said. Under current law, the comparable figures would be $7,400 for individual coverage and $20,300 for family coverage.

According to the CBO, the Republican plan would supposedly lower current premiums because of government subsidies, which don't adjust for inflation, but end up leaving more people uninsured. Nice plan huh?