Nov 22, 2017 - Health
Higher premiums would cancel out some tax cuts
Some people's tax cuts under the GOP Senate bill would be canceled out by the increased premiums they would face due to the repeal of the Affordable Care Act's individual mandate, according to an analysis by The Commonwealth Fund. And, for those roughly 7 million people who buy insurance on their own but don't get premium subsidies, high health care costs would endure even after the bill's tax cuts expire.
Why this matters: This is the downside of repealing the individual mandate in the tax bill. Although doing so provides savings to help pay for the bill's tax cuts, on balance, the bill would leave millions of middle-income Americans worse off financially.