The Republican plan to overhaul Medicare is expected to slash spending on Medicare by $3.8 trillion over the next decade.
The CBO estimates the plan would cause $2.6 trillion in additional Medicare spending over the 10-year period.
If that were the case, it would take out about 1 in 6 of the projected $1.6 billion in federal spending for Medicare and Social Security by 2023.
A new report from the left-leaning Economic Policy Institute and the Urban Institute predicts the GOP plan would cut about 1 million Medicare jobs and reduce the number of Americans receiving Medicare by about 10 million over the same period.
The nonpartisan report, released Thursday, says that under the GOP health care plan, Medicare would lose nearly 1.5 million doctors and hospitals and about 10.4 million physicians, which would leave fewer Americans covered by the program.
Medicare would also be less accessible for people with pre-existing conditions, and the report says those cuts would hurt seniors and people with disabilities.
In order to pass the GOP proposal, House Republicans must pass legislation that eliminates the ACA’s Medicaid expansion and other key provisions, including allowing states to opt out of Medicaid expansion.
If the bill fails, it could leave the nation’s largest entitlement program with fewer doctors and fewer hospitals, and that could have dire consequences for Medicare.
The American Public Health Association says there is a 60 percent chance that the GOP bill will increase the number and quality of Medicare patients by one to two percentage points over the 2020s.
That’s because of the way the bill is structured, the group says.
“If you look at the CBO score, it is going to have a huge impact on people’s lives,” says Peter J. Reuter, the organization’s president and CEO.
If passed, the GOP measure would also reduce funding for the ACA program, and it would make it harder for Americans to obtain coverage on the ACA.
“It’s going to hurt people who need help the most,” says J. Scott Morgan, the president of the Center for Medicare Advocacy.
Medicare, like other public programs, faces a $822 billion budget deficit in 2021.
The Congressional Budget Office expects that number to grow to more than $1 trillion by 2026, a figure that would likely be passed on to Americans by 2028.
Medicare spending has long been an issue for Democrats.
A Medicare for All bill was proposed by Rep. John Conyers, D-Mich., but it died in committee in 2015 after Democrats objected to its details.
The GOP plan, which has yet to be released, is expected next week to be passed by the House and Senate.
Democrats have long criticized the ACA for having failed to meet its targets for spending and benefits.
A Kaiser Family Foundation analysis of the bill found that its provisions would increase the costs of care and shorten the life of patients.
“Medicare is the only health care program that is paid for entirely by the federal government,” Morgan said.
“That means it would be the only program that would face a fiscal burden if Republicans succeed in repealing the ACA.”
A Kaiser report released in July found that the bill would increase premiums by an average of 15 percent over the 2018-2021 period, but it would not affect the Medicare Advantage program, which provides coverage to seniors with lower incomes.
Medicare Advantage is an alternative to traditional Medicare for older adults and their families, and some analysts have argued that a cut in benefits for Medicare Advantage would be better for seniors.
The Senate is expected in late December to vote on the GOP-led plan.
Democrats are also hoping that the CBO’s analysis of their health care proposal will give them ammunition to make the case that the AHCA will lead to higher costs for Americans and higher premiums for insurers.
“Obamacare is a failure,” Senate Minority Leader Chuck Schumer, D, N.Y., said Thursday.
“This bill, and others like it, are just a continuation of that failure.
If we pass it, I think premiums will go up.”
In an interview with The Associated Press last month, former President Bill Clinton said he hoped to have his plan on the president’s desk before Christmas.
“I would love to have my plan on President Obama’s desk this year,” he said.
The House passed a bill last year that would have expanded Medicare coverage to those older than 65.
The bill died in the Senate, but Republicans are still trying to pass their own version of the legislation, which the House passed on Friday and Senate has not yet taken up.
House Majority Leader Kevin McCarthy, R-Calif., said on Twitter that he plans to take a vote on “President Trump’s new Medicare bill” on Monday.
“As soon as the Senate has it, we will take a look at it,” he tweeted.
The Associated National Health Insurance Program is a government program that pays for health care for people who are unable to afford it.
The AHCA’s provision for an expanded Medicare program would provide the same basic benefits to older people and people in low-income