GOP repeal could raise seniors' healthcare cost by $16,000 a year
The Graham-Cassidy effort to repeal the Affordable Care Act "threatens to make health care unaffordable and inaccessible for millions of older Americans," the AARP report said.
On average, a 60-year-old earning $25,000 a year could see their healthcare payments rise by as much as $16,174 a year - due to premiums and out-of-pocket costs, according to the study.
"The bill eliminates two sources of financial assistance - premium tax credits and cost-sharing reductions - critical to ensuring that low- to moderate-income older adults are able to afford the coverage they need," the report stated.
AARP also pointed out that the total increase in premium and out-of-pocket costs in some states, including Alaska and Arizona, is significantly larger.
"For instance, a 60-year old Alaskan earning $25,000 could pay as much as $31,790 more to keep her current coverage. In Arizona, that person could pay as much as $22,074 more," the study says. "This increase is simply unaffordable." ■