Donald Trump’s health care plan will raise premiums for many Americans and cut benefits for millions, according to a new report from the nonprofit nonpartisan Tax Policy Center.
The nonpartisan analysis, which analyzed the Trump administration’s 2018 budget, finds that the Republican plan would increase premiums by 15 percent for individuals, 26 percent for families and 32 percent for people under 65, while cutting $8,000 out of their benefits.
Trump and House Republicans have pushed the plan as a way to cut health care costs for the wealthy.
But the nonpartisan analysis says premiums could actually increase, as some people who currently receive subsidies under the Affordable Care Act would lose those subsidies.
Trump’s administration says the plan will reduce the federal deficit by $1.6 trillion over 10 years, and it says the changes would save Americans money on their premiums.
The White House said Wednesday it is still working to figure out how many Americans would see their premiums increase under the plan.
In the Tax Policy report, the center found that, among the states that did not expand Medicaid under the ACA, premiums rose by 5.5 percent, but only by 3.5 cents on average.
The report found that the average cost of premiums in Alabama, Tennessee, Texas and Louisiana increased by 9.4 percent, 4.6 percent and 5.4%, respectively.
In Alabama, the Tax Center found that premiums were up by 6.3 percent, while premiums in the state’s largest city of Birmingham were up 4.5 and 6.5, respectively.
The Tax Policy analysis does not include the state of Alaska, which Trump has proposed expanding Medicaid under Medicaid expansion, and other states that have not yet seen a Medicaid expansion.
The Tax Policy researchers said that the tax changes would affect people with incomes of up to $25,000 and those with incomes above that level.
States that expanded Medicaid under Trump’s ACA program could lose about $1,000 per year in Medicaid premiums, the nonpartisan Tax Center study found.
The Republican plan has not been approved by the Republican-led Congress, but it is expected to be signed into law by Trump.
Trump has called the health care overhaul a “massive” success.
The report said the bill would result in $1 trillion in federal spending cuts over a decade, and more than 7 million people would lose insurance coverage.
The tax plan would also leave 20 million more people without health insurance by 2026 than would have been the case under the Obama administration, the study said.