The nonpartisan Congressional Budget Office’s latest scoring of the House Republican replacement to Obamacare shows that by next year, 14 million people would lose health coverage, while a total 23 million would lose insurance within a decade.
The CBO’s report Wednesday takes into account amendments attached to the American Health Care Act (AHCA) on May 4, shortly before the House bill’s partisan passage which was nearly denied by just two votes. This is the AHCA’s second scoring by the CBO, which released its first report in March.
Around 23 million Americans would lose health care insurance by 2026, the new report found. The CBO had previously projected 24 million people losing health coverage. However, it remains unclear how much, if any, good news the Senate Republicans can take away from the government report.
Major insurer UnitedHealth, which caused a stir in the fall by saying it might leave Obamacare, lost $720 million from the individual health insurance market last year.
However, the country’s largest insurer still made a ton of money.
UnitedHealth said in its financial report released Tuesday that the $720 million comes from losses “related to the individual exchange-compliant insurance business.” The individual marketplace includes Obamacare.
The agency charged with overseeing implementation of the Affordable Care Act could not guarantee that tax credits under the law went solely to Obamacare enrollees who had paid their premiums, government inspectors discovered.
A report released Wednesday said that in 2014, the Centers for Medicare and Medicaid Services relied on health insurers to confirm that payments based on the tax credits were accurately doled out without an independent system to verify or audit the determinations.
The inspector general for the Department of Health and Human Services, the parent agency, concluded that “federal funds may be at risk” without an effective system to ensure that the payments to confirmed Obamacare enrollees were correct.