Federal subsidies for health insurance coverage for people under age 65: 2018 to 2028
- Collection:
- Health Policy and Services Research
- Contributor(s):
- United States. Congressional Budget Office, issuing body.
- Publication:
- Washington, D.C. : Congressional Budget Office, May 2018
- Language(s):
- English
- Format:
- Text
- Subject(s):
- Financing, Government Insurance Coverage -- economics Insurance, Health -- economics Adolescent Adult Child Cost Sharing Health Benefit Plans, Employee -- economics Health Insurance Exchanges -- economics Infant Medicaid -- economics Medicare -- economics Taxes -- economics Humans United States State Children's Health Insurance Program (U.S.)
- Genre(s):
- Technical Report
- Abstract:
- The federal government subsidizes health insurance for most Americans through a variety of programs and tax provisions. This report updates CBO's baseline, providing estimates for the 2018--2028 period of the number of noninstitutionalized people under age 65 with health insurance and the federal costs associated with each kind of subsidy. (1) In an average month in 2018, about 244 million of those people will have health insurance, and about 29 million will not. By 2028, about 243 million are projected to have health insurance and 35 million to lack it. (2) Net federal subsidies for insured people in 2018 will total $685 billion. That amount is projected to reach $1.2 trillion in 2028. Medicaid and the Children's Health Insurance Program account for about 40 percent of that total, as do subsidies in the form of tax benefits for work-related insurance. Medicare accounts for about 10 percent, as do subsidies for coverage obtained through the marketplaces established by the Affordable Care Act or through the Basic Health Program. (3) The market for nongroup health insurance (that is, insurance bought individually rather than through an employer) is expected to be stable in most areas of the country over the decade. Premiums for benchmark plans, which are the basis for determining subsidies in that market, are projected to increase by about 15 percent from 2018 to 2019 and by about 7 percent per year between 2019 and 2028. (4) Since CBO's most recent report comparable to this one was published in September 2017, the projection of the number of people with subsidized coverage through the marketplaces in 2027 has fallen by 3 million, and the projection of the number of uninsured people in that year has risen by 5 million. Projected net federal subsidies for health insurance from 2018 to 2027 have fallen by 5 percent.
- Copyright:
- The National Library of Medicine believes this item to be in the public domain. (More information)
- Extent:
- 1 online resource (1 PDF file (27 pages))
- Illustrations:
- Illustrations
- NLM Unique ID:
- 101732148 (See catalog record)
- Permanent Link:
- http://resource.nlm.nih.gov/101732148