INDIANAPOLIS – A new report Monday from the nonpartisan Congressional Budget Office (CBO) states that health care premiums are expected to rise as much as 34% this year, due primarily to steps Republicans have taken in the McConnell tax plan and throughout the year to sabotage the nation’s health care system.
In their report, the CBO states the federal government will have to pay $10 billion more in increased federal subsidies next year to compensate for the fact that insurance companies are likely to raise health care premiums by as much as 34%. The report lays blame for the premium hikes at the feet of Congressional Republicans and the Trump Administration for their actions to destabilize the marketplaces.
In particular, it singles out the McConnell tax plan supported by Republicans like Congressmen Messer and Rokita and Rep. Braun as a driving factor for this destabilization. As previous reports indicate, changes in the McConnell plan will likely cause as many as 13 million Americans to go without health care, while raising premiums on everyone else. Meanwhile, the same insurance companies raising Hoosiers’ premiums by astronomical numbers will rake in billions of dollars in new profits from additional tax breaks in the McConnell plan.
The CBO’s report is the latest in a series of analyses projecting premium spikes thanks to Republican sabotage. Similar findings in recent weeks have come from the Urban Institute, AARP, and a state insurance marketplace.
“The CBO’s report makes clear that the Republican-led sabotage of our health care system is well underway, and it’ll be working Hoosiers who pay the price for the actions of Congressman Messer, Congressman Rokita, and Rep. Braun,” said Michael Feldman, spokesman for the Indiana Democratic Party. “It’s outrageous that double-digit premium increases will hit Indiana families just so Republicans can try to benefit politically.”