CBO: Obamacare Will Cost Less Than Projected, Cover 12 Million Uninsured People This Year than if Obamacare had not become law.

WASHINGTON -- The Congressional Budget Office has released updated estimates on the Affordable Care Act's impact on both the budget and the health insurance industry. The findings show that the president's signature health care law is actually growing cheaper to implement, costing the government $5 billion less in 2014 than was previously projected. The law also is projected to cover more individuals than previously believed, owing, in part, to some broader workforce trends.
cbo obamacareBut a significant portion of the population will remain uninsured even with the law fully implemented. And the costs to individuals and employers, while lower than previous estimates, still provide critics of the law with ample fodder.
Below are some additional highlights from the CBO report:
Twelve million more non-elderly people will have health insurance in 2014 than if Obamacare had not become law. CBO's projections on this crucial measure of the law's success are higher than recent surveys from the Rand Corp., which estimated a 9.3 million reduction, and from Gallup, which shows a 3.5 million decline.
For all of 2014, the CBO expects 6 million people to be covered by private health insurance policies purchased through the exchanges, fewer than the 7.5 million enrollment figure touted by the White House. That's mainly because the CBO expects people to cycle in and out of different types of coverage over the year -- perhaps by taking a new job and the health benefits that come with it -- and because some enrollees won't pay their first month's premium or will let their policies lapse during the year. more

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