CBO’s economic outlook predicts slower than expected insurance enrollment
Posted on February 5, 2013 | No Comments
The Congressional Budget Office (CBO) today released an economic outlook, which predicts that consumers will not enroll in the Affordable Care Act’s (ACA’s) health insurance marketplaces and expanded Medicaid programs as quickly as previously estimated.
Lower Projected Costs for Medicaid and the Children’s Health Insurance Program: According to the report, the ACA will increase the number of people enrolled in Medicaid by 12 million in 2022, as opposed to the 11 million estimated in August 2012. Despite this difference, the projected costs for Medicaid and the Children’s Health Insurance Program are $93 billion (or 14 percent) below the earlier projection for the 2013–2022 period,
Higher Enrollment in and Subsidies for Coverage Through Exchanges: The report estimates that the costs of subsidies for insurance obtained through the exchanges and for related spending over the 2013–2022 period is now $32 billion (or about 3 percent) higher than it was in August, mostly due to higher projected enrollment in the exchanges. All told, the report projects that 26 million people will be enrolled in the insurance exchanges in 2022, about 500,000 more than estimated in the August 2012 report.
Fewer People with Employment-Based Coverage: In 2022, according to the report, 7 million fewer people will have employment-based health insurance as a result of the ACA; in August, that figure was estimated to be about 4 million people.