The Congressional Budget Office (CBO) has issued new estimates of the costs and coverage of the Affordable Care Act (ACA), finding savings of $104 billion through 2024 and $4 billion in 2014 alone. The cost for the first decade of Obamacare has been revised downward to $1.383 trillion.
The savings, according to the CBO, came about because government subsidies will not be as great as anticipated due to lower-than-expected premium prices.
The CBO, however, breaks ranks with the White House on how many people actually will be covered by policies purchased on the ACA marketplaces, pegging the total at 6 million as opposed to the administration's 7.5-million figure. Overall, through various initiatives associated with the ACA, the CBO says 12 million previously uninsured Americans will have health coverage this year.
Still, the CBO says 42 million people will remain uninsured, many through individual choice. That figure should drop to 36 million in 2015, the independent agency predicts.