Obamacare repeal to leave 18 ml uninsured in first year

NEW YORK

The repeal of Affordable Care Act, dubbed Obamacare, would leave 18 million people uninsured in the first year, according to a report by non-partisan Congressional Budget Office published on Tuesday.

Monthly individual premiums would increase by 20 percent to 25 percent in the first year following the healthcare law's enactment, about 50 percent in the next year, and almost double by 2026, according to the report.

With Obamacare's repeal, the number of people uninsured in the U.S. is also estimated to reach 32 million by 2026, the report added.

On Friday, the House of Representatives voted 227-198, allowing lawmakers to roll back key components of Obamacare.

President-elect Donald Trump has long been an opponent of the law, and said last week that he would repeal and replace the act immediately after taking office.

Some Republicans, however, prefer waiting for the repeal until a new healthcare law is drafted. Neither the president-elect nor Republicans have yet provided any tangible alternatives.

Repealing Obamacare is expected to increase the new government’s budget deficit as much as $350 billion in the next 10 years, according to a report by Committee for a Responsible Federal Budget.

In addition, the repeal can cost 2.6 million jobs across the U.S. in 2019, according to a report by private nonpartisan foundation The Commonwealth Fund.