The latest version of the Senate Republicans’ TrumpCare plan continues to fail to keep premiums and out-of-pocket costs affordable for Americans. TrumpCare reduces the benchmark value of plans from 70 percent of a consumer’s expected costs to 58 percent, increasing out-of-pocket costs for millions of Americans.
The Congressional Budget Office estimates that consumers will be caught between two impossible choices: pay more in insurance premiums or be stuck with high deductibles and out-of-pocket costs, making their health insurance virtually worthless and unaffordable.
The Joint Economic Committee Democratic Staff estimates that out-of-pocket costs for a 64-year-old woman would increase by more than $1,000 in many states, and up to $2000 in Colorado. These estimates likely underestimate the effects of TrumpCare, particularly if the new Cruz-Lee amendment becomes law. That amendment would allow insurers to offer even lower-quality plans that further shift the cost burden onto consumers. By contrast, for consumers to keep the same quality and maintain the lower out-of-pocket costs that they currently have under an Affordable Care Act silver plan, they would be expected to pay at least 9 percent, or $692, more in premiums.
