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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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John Aravosis
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. John’s article archive.

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