Congressional Budget Office predicts $800 million bill for 5 years of CHIP

Congressional Budget Office CHIP

The Children’s Health Insurance Program covers almost 9 million low income kids in the country. The Congressional Budget Office released a prediction from its analysts that the Children’s Health Insurance Program (CHIP) will cost $800 million for a 5 year renewal. This total could help lawmakers to overcome one of the main challenges to the program’s renewal. Some states risk running out of funding for their kids’ coverage as soon as the close of this month. Prior analyst estimates suggested the cost of renewing CHIP would be closer to $8.2…

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Congressional Budget Office accuses Trump administration policies of hurting ACA

health care congressional budget office report

A new report from the CBO predicts that uninsured American numbers will rise under President Trump. The Congressional Budget Office (CBO) recently released a report predicting that Trump’s health care policies will be to the detriment of the Affordable Care Act’s success. Despite the GOP’s efforts to overturn the ACA, the Trump Administration’s policies will foster rising premiums and falling enrollment in individual health insurance markets in 2018. The report suggested that the President Donald Trump’s strategy is causing direct harm to health care. Trump had said that his strategy…

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Health insurance premiums and deficit climb with Trump’s mountain of threats

donald trump health insurance executive order

The Congressional Budget Office released a statement outlining the financial impact if the president goes ahead with his plans. Health insurance premiums for the most popular plans are going to spike by 20 percent in 2018 if President Trump moves forward with his current threats to the Affordable Care Act. This data was released by the Congressional Budget Office. It also said Trump’s plans would harm the federal budget deficits by increasing them by $194 billion. The federal deficit would suffer by nearly 200 billion over the next ten years…

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Health insurance coverage among U.S. adults drops by 2 million

affordable care act health insurance coverage

Some have interpreted these numbers as a reduction in the Affordable Care Act’s gains. New Gallup-Sharecare Well-Being Index figures suggest health insurance coverage rates may have fallen this year. After years of improvements in the uninsured Americans statistics following the Affordable Care Act, those figures have started to erode. The index stated that the number of uninsured Americans grew by 2 million people in 2017. The Gallup-Sharecare Well-Being Index was based on a survey of American adults. The survey showed an 11.7 percent uninsured rate throughout the second quarter of…

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Taxpayers to commit $660 billion for health insurance subsidies in the US

Health Insurance Expense

Subsidies to help cover the cost of coverage for those over the age of 65 are growing This year, taxpayers in the United States will commit more than $660 billion to help subsidize health insurance coverage for those over the age of 65, according to the. The federal agency has released one of its most comprehensive reports concerning the cost of subsidized insurance coverage, highlighting the potential these subsidies have to reduce the national deficit. According to the report, the 2016 tax bill accounts for 3.6% of the country’s gross…

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