Seven million people will lose their job-based health insurance, according to a new economic report from the Congressional Budget Office. That’s nearly double the previous estimate of 4 million.
NBC explains why the numbers have changed:
That’s mostly because of the deal Congress made last month to keep the country from going over the fiscal cliff, the CBO says. . . .
It takes away some of the tax breaks that employers get for providing health insurance to workers and their families. The change “will lead to a greater reduction in such coverage and higher enrollment in insurance exchanges than previously estimated by CBO,” the report reads.
The Congressional Budget Office (CBO) estimated Tuesday that President Obama’s signature healthcare law will cost about $1.3 trillion over the next 10 years.
The figure represents a slight increase since August, when the nonpartisan budget office estimated that the law would cost about $1.17 trillion before 2022.
The Hill rounds the numbers, but the point is the same when you look at the more precise figures: We’ve officially reached the day when a $164 billion in added cost is merely a “slight increase.”