34% premium increase for older Americans under Senate GOP health care bill, with fewer benefits – per CBO

The Congressional Budget Office estimates that Americans in their 60s could see a 34% increase in health insurance premiums under the Senate Republican health care bill.

What’s more, CBO says the Senate bill will cut benefits. Which means, older Americans will be paying more for less.

And in fact, the bill will raise premiums for everyone age 50 and up.

Here is CBO’s analysis of how your premiums will change. You can click the image to see a larger version. I’ll explain this chart below.

So, what does this chart mean?

The chart shows how much you’d pay for a bronze (the cheapest plan) and a silver (a better, but still not top) plan under Obamacare (aka current law) and under the Senate GOP bill (aka BCRA) in the year 2026.

Let’s look at the Silver plan, in the right-hand column. And then let’s look at the last section at the bottom of the image, which shows how much premiums would change for people who don’t receive subsidies to buffer the cost.

What this shows is that if you’re 21 years old, you’ll pay an annual premium of $5,100 under Obamacare, and $4,100 under the GOP Senate bill.

If you’re 40, you’ll pay $6,500 per year in premiums under Obamacare, and $6,400 under the GOP bill. But keep in mind, under the GOP bill your benefits will be much worse than under Obamacare. So, you’re actually getting less for the same money.

And if you’re 64, you’ll pay $15,300 per year in premiums under Obamacare, while under the GOP bill you’ll pay $20,500 per year — for fewer benefits. That’s a whopping 34% increase in premiums over what you’d be paying under Obamacare. And with even fewer benefits than you have now!

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Follow me on Twitter: @aravosis | @americablog | @americabloggay | Facebook | Instagram | Google+ | LinkedIn. John Aravosis is the Executive Editor of AMERICAblog, which he founded in 2004. He has a joint law degree (JD) and masters in Foreign Service from Georgetown; and has worked in the US Senate, World Bank, Children's Defense Fund, the United Nations Development Programme, and as a stringer for the Economist. He is a frequent TV pundit, having appeared on the O'Reilly Factor, Hardball, World News Tonight, Nightline, AM Joy & Reliable Sources, among others. John lives in Washington, DC. .

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6 Responses to “34% premium increase for older Americans under Senate GOP health care bill, with fewer benefits – per CBO”

  1. Bill_Perdue says:

    And Obamacare will leave them with untenable medical bills. Older people and all workers need socialized medicine but the Democrat and Republican parties both oppose that and want schemes that benefit the rich, especially those who own or have stock in medical insurance and pharmaceutical companies.

    Trumpcare, Obamacare, Heritagecare and earlier versions like Clintoncare share a common and decisive characteristic – they encourage insurance and pharmaceutical companies to deny good health care by leeching profits out of the health care system.

    Profit is theft.

    https://uploads.disquscdn.com/images/4ce1b30a0f7e6b551f03217a3e4ac9032558ef5bb19f7a09b8c9263c079069eb.jpg On 05 15 2016 Gallup noted that ”Majority in U.S. Support Idea of Fed-Funded Healthcare System – 58% favor replacing the ACA with federally funded healthcare systemhttp://www.gallup.com/poll/191504/majority-support-idea-fed-funded-healthcare-system.aspx?utm_source=alert&utm_medium=email&utm_content=morelink&utm_campaign=syndication

  2. Demosthenes says:

    But but but BENGHAZI!!!

  3. joe says:

    Funny as hell Better Care Health Bill. How exactly is higher premiums and less coverage Better Care. Tired of winning yet…LOL

  4. Houndentenor says:

    Sadly, the Republicans keep going on live tv and lying their faces off about this bill. As long as they can keep lying with a straight face, Republicans will keep believing them and writing everything else off as “fake news.” Even when their own premiums go up or coverage gets worse, they’ll find a way to blame Obama and the Democrats because that’s what they do. Any hope for common sense to strike the GOP is foolishness.

  5. d3clark says:

    John, you made a typo when you listed the name of the Senate’s version of Trumpcare aka Deathcare. Its abbreviation should be written as BCRAP.

  6. devlzadvocate says:

    It’s a version of “Pay to Play”. As you get older, you’ll have to pay more to go on living. If you can’t pay or won’t pay, you’ll die. They know that. The GOP voters have given their permission to allow that to happen. That philosophy is evident in many GOP policies. However, the wise GOP hierarchy doesn’t want those same dollar store insurance polices applied to them. So, they said they’ll take the money that isn’t going to be spent on health care and just spread it around at the top. Congress won’t take the money for a tax cut as much as they were GIVEN it by Trump cult voters.

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