Huge State Costs from GOP Plan to Kill Obamacare
$7.8 billion federal funds, 45,700 jobs lost.
Statewide: This morning on a media call Citizen Action of Wisconsin released a new report documenting the devastating economic repercussions for Wisconsin of repealing the Affordable Care Act (ACA) without a viable replacement. The report, A Cost Too High, can be downloaded here. The report was produced by Citizen Action national partners Health Care for America Now and People’s Action Institute. Audio of our news conference can be heard here.
The consequences of taking health coverage away from over 30 million Americans, and over 430,000 Wisconsinites, has rightly been at the center of the debate over the future of the ACA.
What has received less attention is the economic impact of repealing the health care law. A Cost Too High shows these economic consequences would be devastating for Wisconsin.
Personal Economic Consequences of repealing ACA:
- Repealing health affordability tax subsidies would cost the over 190,000 Wisconsinites who buy insurance on the ACA marketplace an average of $4,953 per year.
- Repealing ACA would double the cost of health insurance premiums.
- By reopening the Medicare Part D Donut Hole, ACA repeal would cost enrollees $1,036 a month on average in higher prescription drug costs.
Statewide Economic Impacts of ACA repeal:
- Jobs Lost 45,700
- Cost to doctors and hospitals $1,119,000,000
- Hospitals would see $433,000,000 in additional uncompensated care
- Physicians would see $217,000 more in uncompensated care
- Cost in lost federal dollars (2019-22) $7,892,000,000
“Because health care is a critical and growing part of Wisconsin’s economy, the repeal of the Affordable Care Act will have devastating consequences,” said Robert Kraig, Executive Director of Citizen Action of Wisconsin. “It is only common sense that if you pull billions of dollar out of the state’s economy, and stick doctors and hospitals with hundreds of millions of dollars in uncompensated care, there will be a large negative impact on the number of family supporting jobs in Wisconsin.”
“By repealing the Affordable Care Act, we are going to have disastrous ripple effects in Wisconsin that are going to affect businesses in addition to people,” said State Representative Melissa Sargent. “The plan to repeal the Affordable Care Act could lead to 45,000 hardworking Wisconsinites losing their jobs.”
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