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Premiums Could Rise 74 Percent Under GOP Health Care Bill: Study

Older and low-income Americans could face the highest increases for coverage

Health care premiums could rise 74 percent for the average customer under the Republican Senate health care bill, according to a new report.

Older and low-income Americans could face the highest increases for coverage, with Americans between ages 55 and 64 with lower incomes seeing a 294 percent increase in premiums. NBC News reported that the study by the nonpartisan Kaiser Family Foundation factored in the price of insurance and the amount of subsidies people would receive. 

The Senate bill, supported by Senate Majority Leader Mitch McConnell, R-Ky., encourages customers to purchase plans with higher deductibles. The subsidies would cover an average of 58 percent of costs, compared to Obamacare’s 70 percent.

In its analysis on Monday, the Congressional Budget Office said that premiums and deductibles could be too high for many low-income customers to buy coverage.

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