GOP's "Big Beautiful Bill" Is Causing Millions To Lose Their Health Insurance

The following is part of an article by Reed Abelson and Margot Sanger-Katz in The New York Times:

Millions of Americans appear to be dropping Obamacare coverage in the months since Congress failed to extend the generous subsidies that had become a defining feature of the Affordable Care Act.

Initial sign-ups had already fallen by about 1.2 million people. But insurance companies, state officials and industry analysts are reporting that many more have lost Obamacare coverage now that people are facing long-term higher costs. The federal government has yet to report current enrollment data.

Many insurers and analysts are estimating overall declines of about 20 percent, dropping to around 19 million from the 24 million who were covered under the A.C.A. last year. Other indications suggest there could be even larger potential losses by the end of the year, a deep retrenchment for Obamacare coverage and a reversal of significant gains in the last several years.

The rising cost of health care has shown up as a top concern among Americans in several public opinion polls. Premiums are rising for Americans who get insurance through work, too, as health care costs have been increasing nationwide. Out-of-pocket costs are growing too, as plans with high deductibles have become popular. . . .

One analysis, by Wakely Consulting Group, a firm with access to detailed insurance industry data, estimates that coverage in the marketplaces will drop by as much as 26 percent this year compared with last year’s average enrollment. . . .

The insurers and state officials said early retirees with middle-class incomes, who faced the largest increases in premiums, appeared to be among the hardest hit. In some markets, the cost of insurance for this group rose by $1,000 a month or more.