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CBO finds 'millions' will lose coverage from repeal bill

The Congressional Budget Office (CBO) projected Monday that the last-ditch GOP ObamaCare repeal bill would result in "millions" of people losing coverage. 

The agency did not give a specific number given a lack of time to do the analysis before a vote, but said the "direction of the effect is clear."

CBO said the reduction in coverage would be felt in three areas: in Medicaid, because the bill repeals ObamaCare's expansion of Medicaid; in private coverage, because the bill repeals subsidies that help people afford it; and because the mandate to have coverage would be repealed.

After the CBO analysis was released, Sen. Susan CollinsSusan Margaret CollinsSenators discussing Trump censure resolution Senate GOP signals it's likely to acquit Trump for second time Just five GOP senators vote Trump impeachment trial is constitutional MORE (R-Maine) told reporters she hoped senators could return to the bipartisan ObamaCare stabilization negotiations that were abruptly cut off last week.

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Sens. Lamar AlexanderLamar AlexanderCongress addressed surprise medical bills, but the issue is not resolved Trump renominates Judy Shelton in last-ditch bid to reshape Fed Senate swears-in six new lawmakers as 117th Congress convenes MORE (R-Tenn.) and Patty MurrayPatricia (Patty) Lynn MurrayHawley pens op-ed to defend decision to object to electoral votes amid pushback Demolition at the Labor Department, too Hawley, Cruz face rising anger, possible censure MORE (D-Wash.) were in the midst of negotiations on a bill to stabilize the insurance markets, until they were abandoned so Republicans could concentrate on one last repeal effort .

"I would hope that work would be resumed very quickly, and we could go on to other issues in the ACA," Collins said. 

CBO predicted some states would charge those who are sick more money for health coverage. 

 
"CBO and JCT also anticipate that some states would allow insurers to set premiums on the basis of an individual’s health status," the analysis states. 
 
"However, the higher the expected health care costs, the higher the premiums would be; for some people, premiums would be a very large share of their income."
 
The CBO finds that spending under the bill would be $230 billion less from 2020 to 2026 compared to ObamaCare. 
 
The new block grants to states that the bill creates would help offset the coverage losses, but only partially, CBO found. 
  
The bill also would reduce deficits by more than $133 billion over 10 years, the CBO found, clearing a hurdle in qualifying for special rules to avoid a filibuster.