CBO Now Says 10 Mil Will Lose Employer Health Plans Under ObamaCare
The Congressional Budget Office now says ObamaCare will push 10 million off employer-based coverage, a tenfold increase from its initial projection…
The latest CBO report is supposed to be a big win for the Obama administration because the projected costs are 20% below what the CBO first projected in 2010.
But the CBO report also shows that ObamaCare will be far more disruptive to the employer-based insurance market, while being far less effective at cutting the ranks of the uninsured, than promised.
Thanks to ObamaCare, the CBO now expects that 10 million workers will lose their employer-based coverage by 2021.
This finding stands in sharp contrast to earlier CBO projections, which at one point suggested ObamaCare would increase the number of people getting coverage through work, at least in its early years.
The budget office has, in fact, increased the number it says will lose workplace coverage every year since 2011.