Health care companies have warned of a death trap that could lead to millions of Americans losing their health insurance coverage.
A new report by the Insurance Information Institute (II) found that an estimated 6.1 million Americans would lose their insurance by 2026 if the law was implemented as currently drafted.
The study’s authors, who include the president of the Center for Health Policy and Management at Columbia University, say the uncertainty over how the health care law would work will likely cause premiums to increase, lead to more out-of-pocket expenses and increase the risk of higher medical expenses.
“The law is a deathtrap, because the uncertainty about how it will be implemented will drive up premiums and lead to higher out-pocket health care expenses, potentially leading to higher medical costs for the uninsured,” wrote the authors, which is based at the Columbia Business School.
“Health care is an expensive industry and a rapidly growing industry.
The uncertainty over the law’s implementation could cause premiums and costs to skyrocket and potentially lead to a loss of insurance coverage for millions of uninsured Americans.”
In a statement, the insurance industry was not happy about the report’s findings.
“We’ve been watching the news about the health insurance law for years and know that it is failing to meet the expectations of the American people,” said David S. Cohen, chief executive of Aetna, one of the nation’s largest health insurers.
“The results of this study are consistent with our long-held view that the ACA will not be successful in meeting the expectations it has set for itself and that its impact will be severe.
The II report was commissioned by the White House and released Monday.
The researchers also released a report that analyzed the impact of the ACA on the health of more than 20 million Americans.
In addition to the death toll, the researchers said that the law is likely to lead to another $7 billion to $9 billion in annual cost increases for insurance companies, according to the report.
Cohen said the report found that the cost of medical care is likely going to rise by about 10 percent in the first year after the law took effect, and by as much as 30 percent in subsequent years.”
Insurers have complained that the legislation, which passed in 2009 with bipartisan support, does not fully fund their programs. “
This will increase the cost burden on middle-class and low-income Americans.”
Insurers have complained that the legislation, which passed in 2009 with bipartisan support, does not fully fund their programs.
The Affordable Care Act requires insurers to cover everyone with a health insurance plan, including those with preexisting conditions.
The law provides a federal subsidy of up to $2,500 for those making less than 400 percent of the federal poverty level, which was last year $18,600.
The cost-sharing subsidies are $2 for a family of four and $3 for a single person.
The report also found that insurers have been underfunding the health plan by more than $1.8 trillion, or about 30 percent of their premiums.
The White House said last month that premiums for the most popular insurance plans are set to rise to $1,500 per month by 2020, from $1 and $2.
By 2020, the premium increase is projected to be about 18 percent, and the cost-of in-network doctor visits and out-year medical expenses will increase by about 5 percent.
By 2025, the cost increase is expected to be 26 percent, according the II study.
Insurers in general have been lobbying hard to lower premiums for 2017, and many are urging them to do more to ensure their patients have access to affordable health care.
The nonpartisan Congressional Budget Office has projected that about two-thirds of Americans would be covered by a health plan if the ACA is fully implemented, though the exact number could change.
The CBO has estimated that premiums would increase by more like 23 percent.
The bill also included provisions to expand the Medicaid program for low-wage workers, including a new tax credit of $1 for every $10 an employee makes.
The tax credit would help cover the cost for those who do not have employer-sponsored insurance.
The president has also said he will work to reduce costs by providing more money for high-risk patients and by providing incentives to employers to improve their insurance policies and reduce costs.
President Donald Trump has been under pressure from Republicans to do both.
He said last week that if the bill passed, premiums would be a lot lower and that he would have to sign the bill into law.
In a recent interview with Fox News, Senate Majority Leader Mitch McConnell (R-Ky.) said he believes the bill would lower premiums and that Trump’s promise to sign it into law is true.
The Congressional Budget Service is expected in early 2018 to release a report on the bill that would provide the CBO with a rough estimate of how much additional tax revenue the bill will bring in, as well as what impact that will have on the overall deficit.