New Mexico health insurance premiums are expected to rise an average of $2,521 – unless you make twice the state’s per-capita income, in which case you get a refund.
Although Republicans in Congress rush to repeal Obamacare and replace it with TrumpCare before the analysis is complete, some data is already available. Two new reports released this week show the impact on the average American (and New Mexican).
If you’re a millionaire, the AHCA gives you $50K. If you’re poor, it costs you $1,420
“The typical family making less than $10,000 will lose $1,420 if the Republican health care plan passes, a cut that amounts to almost one-third of their income. Meanwhile, the average family making $200,000 or more would gain $5,640, according to a new analysis from the Tax Policy Center and the Urban Institute’s Health Policy Center,” a summary from Vox reads.
In New Mexico, the average per-capita (per person) income is $41,963, meaning the average New Mexico worker, and everyone poorer, will pay more. But those making twice that get about $500 back. Are you one of New Mexico’s 1%? Congrats! You get $5,500 off your healthcare, paid for by the poor.
Families: By 2020, when huge GOP tax cuts take full effect and Medicaid enrollment is frozen, your costs look like this:
Individual costs would increase by $2,049 – $2,243 for the average family
But, if your family includes someone aged 55-64, your family costs would increase by $10,591 because the GOP plan associates costs with age instead of spreading risk out among all users.
New Mexico’s Middle Class: It’s even worse for the poor and working middle-class.
Families needing the most help – those making 250% of the poverty level – would see the largest hits to their incomes.
For New Mexico families of four making less than $60,756 a year (250% of poverty level and the state’s ACA enrollee guidelines), their health care bill would increase by $9,024.
The Rich: All to give huge new tax cuts to the wealthiest Americans.
A new study published in the Washington Post shows how the top 1/10th of 1% of wage earners would save $196,000 a year through new tax cuts in the Republican plan.
Other provisions give tax credits and deductions to drug companies, medical device companies – there is even a special tax break for health care company CEOs.
147,600 New Mexicans will be uninsured by 2026 (including almost 51k in Pearce’s district alone)
A new analysis by the Center for American Progress shows that 147,600 New Mexicans will likely be uninsured by 2026 under TrumpCare. Those are the poor, seniors and working families, no doubt, since those are the people expected to see the largest increases in premiums and co-pay costs.
Center for American Progress: TrumpCare By The Numbers
This map shows what is at stake for Americans as Republicans gear up to vote on their health reform proposal, or Trumpcare, by state and congressional district. Trumpcare would cause Americans to pay thousands of dollars more per year for their coverage while taking away health insurance from millions.
Average cost increase per enrollee by 2026
Number of people who’ll become uninsured by 2026
Number of people who’ll lose coverage by 2026
Michelle Lujan Grisham
Ben Ray Luján
All this, of course, funds a huge new tax cut for the rich according to analysts.
“Republicans’ new health-care bill is a mass transfer of income that cuts taxes for the wealthiest Americans while cutting federal benefits for the middle and working class. Just two provisions in the Republican plan would allow the richest households to pay an average of nearly $200,000 less under the GOP plan, according to the nonpartisan Tax Policy Center.” – The Washington Post, March 7, 2017
So what to do?!
First, our elected leaders need to know we are watching and they need real stories from real New Mexicans they can share when they take to the floor for these debates.
Stand up for New Mexico and say “I won’t pay more for health care so the rich can pay less.”