Analysts estimate the American Health Care Act unveiled by House Republicans Monday could result in millions of people losing insurance coverage they receive under the ACA, reports The New York Times.
Here are five things to know.
1. Analysts said Americans in their 50s and 60s could especially find it harder to pay for coverage, according to the report.
2. This is partly because of how the proposed AHCA would restructure tax credits. The proposal replaces income-based subsidies under the ACA with refundable, age-based and income-capped tax credits, according to Politico. These credits increase with age, from as low as $2,000 for those under 30 or as high as $4,000 for those over 60.
3. Additionally, the AHCA would allow insurers to charge older Americans five times more than younger people, compared to the current 3:1 ratio, according to NYT.
4. While tax credits would be available, analysts said Americans seeking the kind of comprehensive coverage required by the current health law would have to cover more of the cost of their premiums, according to NYT.
"The central issue is the tax credits are not going to be sufficient," said J. Mario Molina, MD, president and CEO of insurer Molina Healthcare in Long Beach, Calif., told the publication.
5. A Standard & Poor's report cited by NYT projects 2 million to 4 million people would lose their coverage through the individual insurance market under the AHCA. The report states the primary reason for this is difficulty people in their 50s and early 60s would have affording coverage.
For more on this story, read the full NYT report here.
More articles on leadership and management:
The American Health Care Ace: 10 things to know
Becker's Speaker Series: 4 questions with Advocate Health Care Vice President of Clinical Information, Anupam Goel
Job cuts coming to Jersey City Medical Center