AARP: Some Seniors Could Pay More Than $30,000 per Year to Keep Their Plans Under Graham-Cassidy

by wagatwe –

The latest iteration of the Trumpcare zombie legislation known as the Graham-Cassidy bill is just bad news for senior Americans. According to a report by the American Association of Retired Persons (AARP), millions of seniors nationwide will see their health care premiums and out-of-pocket costs skyrocket if the bill becomes law.

The bill eliminates two sources of financial assistance – premium tax credits and cost-sharing reductions – critical to ensuring that low- to moderate-income older adults are able to afford the coverage they need. For a 60-year-old earning $25,000 a year, premiums and out-of-pocket costs could increase by as much as $16,174 a year if they wanted to keep their current coverage. The bill may also allow states to charge older adults age 50-64 significantly higher premiums than under current law on the basis of their age by waiving federal protections that limit the practice known as age rating. [emphasis added]

AARP chose $25,000 as a marker because they estimate that’ll be the federal poverty line in 2020 in most states—and, obviously, that much income wouldn’t go very far if Graham-Cassidy is law (hell, it doesn’t go very far now).

We estimate that this person could pay as much as $16,174 more in 2020 (at the national level). In some states, the total increase is significantly larger. For instance, a 60-year old Alaskan earning$25,000 could pay as much as $31,790 more to keep her current coverage. In Arizona, that person could pay as much as $22,074 more. This increase is simply unaffordable.

Graham-Cassidy is a particularly cruel piece of legislation. By taking away funding and stripping regulations from the healthcare sector, seniors would be paying more across the board—and the amount varies wildly from state to state.

This has nothing to do with helping the American people. It’s about politics as usual in the Capitol—not about helping the people they’re supposed to represent.

 

Reprinted with permission from Daily Kos