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InnovationRx: Millions Would Lose Health Insurance Under Republican Budget Bill
The proposed Republican budget bill has sent shockwaves through the healthcare community with its drastic impact on Americans’ health and well-being. According to a nonpartisan Congressional Budget Office report, 11.8 million more Americans would lose their health insurance coverage by 2034 under this legislation.
Federal spending on Medicaid, which is jointly funded by the federal government and states, is set to be slashed by over $1 trillion over that same period. Moreover, total federal expenditure on Medicaid, Medicare, and Obamacare will drop by more than $1.1 trillion. These cuts would have far-reaching consequences for those who rely on Medicaid.
The proposed changes are centered around two key provisions: strict work requirements for recipients of health coverage and new restrictions on a strategy used by some states to finance Medicaid.
Source: www.forbes.com
