Latest ACA replacement expected to cost CT up to $1 billion/year and increase premiums for residents

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An analysis by CT’s Office of Policy and Management estimates that the House Republicans’ American Health Care Act (AHCA) would severely stress the state’s budget far into the future. Extra costs would start at $6.8 million next fiscal year and rise  to $1 billion after 2020 when fully implemented. Policymakers are now trying to fill a projected deficit of $1.4 billion in year’s state’s budget even without passage of the AHCA. The largest AHCA contributor to the state’s deficit is the proposed per capita Medicaid cap, estimated to cost between $50 and $450 million in 2020. Individuals buying coverage with subsidies through AccessHealthCT would face increases averaging between $938/year for people under age 30 to $4,799 for people over age 60. In addition, under the AHCA, members would lose cost-sharing assistance, raising their costs even more. Preliminary estimates find that the law would increase premiums for all consumers by 40% or more next year. Yesterday the Congressional Budget Office released their report on the impact of the AHCA nationally finding that 14 million more Americans would lose coverage next year, growing to 23 million more uninsured in four years. Fourteen million Americans would lose Medicaid by 2024.