Statista, citing data from the non-partisan Congressional Budget Office, stated that 24 million people could lose health insurance coverage in nine years. In addition, overall premiums would fall by around 10 percent in 2026 compared to the current law, this statistic varies depending on age and income.
Who Benefits And Loses The Most?
A single person aged 21 and earning $26,500 per year is already paying $1,700 for insurance premiums under the current plan, but under the Republican bill, it could fall to $1,450. However, a 64-year-old person who is paying $1,700 for an insurance premium today (based on 6.4 percent of their annual income) would see this figure soar to $14,600 (55.1 percent of their income) under the Republican plan.
On the other hand, a 64-year-old on a $68,200 annual wage is paying $15,300 (22.4 percent of their annual earnings) and would benefit from the Republican plan, seeing the payment drop to $14,600.
The Numbers
Statista compiled the average projected share of annual income spent on insurance premiums in 2026 under both Obamacare and the Republican plan.
- 21-year-old single with an annual income of $26,500: 6.4 percent under Obamacare, 5.5 percent under the Republican plan.
- 40-year-old single person with an annual income of $26,500: 6.4 percent under Obamacare, 9.1 percent under the Republican plan.
- 64-year-old single person with an annual income of $26,500: 6.4 percent under Obamacare, 55.1 percent under the Republican plan.
- 21-year-old single with an annual income of $68,200: 7.5 percent under Obamacare, 2.1 percent under the Republican plan.
- 40-year-old single with an annual income of $68,200: 9.5 percent under Obamacare, 3.5 percent under the Republican plan.
- 64-year-old single with an annual income of $68,200: 22.4 percent under Obamacare, 21.4 percent under the Republican plan.
Related Links:
Stocks To Watch As CBO Expected To Release Score For GOP Healthcare Bill
Here's Who's Getting A Tax Cut Under The New Healthcare Proposal (You're Probably Not Included) _______ Image Credit: By Office of the Speaker - https://twitter.com/SpeakerRyan, Public Domain, via Wikimedia Commons
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.