Aug 15, 2017

CBO warns of market chaos if ACA insurer payments end

(Alex Brandon / AP)

The Congressional Budget Office says the individual health insurance market will become less stable in the short term if the administration stops paying the Affordable Care Act insurer subsidies, which are passed along by law to low-income enrollees to help with out-of-pocket costs.

What it said:

  • Premiums will rise by 20 percent in 2018 and by 25 percent in 2020.
  • Cost: $194 billion from 2017-2026. (Because tax credits would increase, shielding many people from the rate hikes).
  • Change in the number of uninsured: Slightly higher in 2018, but slightly lower starting in 2020.
  • 5 percent of the country will have no insurers in 2018, but almost all people would have access to insurance by 2020 as markets adjusted.

Context: President Trump has threatened repeatedly to stop making the payments, but for now the issue remains unresolved. Lawmakers from both parties have actively discussed funding the subsidies in some kind of stabilization package over the last few weeks and will attempt to do so next month.

Go deeper

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3:30 p.m. ET: 838,061 — Total deaths: 41,261 — Total recoveries: 174,115.
  2. U.S.: Leads the world in confirmed cases. Total confirmed cases as of 3:30 p.m. ET: 177,452 — Total deaths: 3,440 — Total recoveries: 6,038.
  3. Public health updates: More than 400 long-term care facilities across the U.S. report patients with coronavirus — Older adults and people with other health conditions are more at risk, new data shows.
  4. Federal government latest: The White House and other institutions are observing several models to better understand and prepare cities for when the coronavirus is expected to peak in the U.S.
  5. In Congress: New York Rep. Max Rose deploys to National Guard to help coronavirus response.
  6. 🎧 Podcast: Misinformation in the coronavirus age.
  7. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

U.S. coronavirus updates: White House studies models projecting virus peak

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

The White House and other institutions are observing several models to better understand and prepare cities for when the coronavirus is expected to peak in the U.S.

The state of play: The coronavirus is expected to peak in the U.S. in two weeks, but many states like Virginia and Maryland will see their individual peaks well after that, according to a model by the University of Washington's Institute for Health Metrics and Evaluation.

Go deeperArrowUpdated 2 hours ago - Health

FDA authorizes two-minute antibody testing kit to detect coronavirus

Currently, it takes days to produce results from testing kits. Photo: Sergei Malgavko\TASS via Getty Images

The Food and Drug Administration issued an emergency approval Tuesday for a serological testing kit produced by Bodysphere Inc. that can detect a positive or negative result for COVID-19 in two minutes.

Why it matters: Access to testing has improved in the U.S. thanks to commercial labs, but the average wait time for a patient's results is four to five days — with some reports of it taking more than a week.

Go deeperArrowUpdated 2 hours ago - Health