The Congressional Budget Office updated their projections on the future of the ACA, the US budget, and enrollment now that the Open Enrollment period has ended.
The Congressional Budget Office announced on Monday that the Affordable Care Act will cost $142 billion, or 11 percent less, over the next 10 years, compared to what the agency had projected in January.
The nonpartisan agency said the Affordable Care Act will cost less for two essential reasons: health insurance premiums are rising more slowly, and slightly fewer people are now expected to sign up for Medicaid and for subsidized insurance under the law’s marketplaces.
More people aren’t expected to sign up for the law because, the agency added, fewer employers than anticipated are canceling coverage and more people than earlier estimated had private coverage. By 2025, the CBO estimates “the total number of people who will be uninsured . . . is now expected to be smaller than previously projected.”
In all, sounds like a win for the Obama Administration and those on the winning end of the law. Spending on healthcare by insurers is slowing or down for most, too.