Congressional Budget Office: 16 million Americans could lose health insurance under Senate Republicans' 'skinny repeal' of Obamacare

Reuters

The nonpartisan Congressional Budget Office (CBO) found that 16 million Americans could lose their health insurance by 2026 under Senate Republicans' Health Care Freedom Act, a bill that would repeal only some elements of Obamacare.

Details of the so-called "skinny repeal" were revealed on the Senate floor Thursday night.

Lawmakers are expected to vote on the legislation at midnight Eastern time.

Here's what's in the bill:

• The bill would repeal both the individual and employer mandates, which requires individuals to have health insurance, and employers to provide health insurance to employees. If they don't, they face a penalty fee under Obamacare.
• The bill repeals a tax on medical-device makers for three years.
• It provides flexibility to states through 1332 waivers to expand the types of health plans they offer.
• It increases the amount people can put in health savings accounts.
• It funds community health centers.

A senior Democratic aide noted that, according to the CBO, the skinny repeal would result in premiums that are roughly 20% higher than they are under the current law, each year.

After the CBO's assessment was revealed Wednesday evening, Senate Minority Leader Chuck Schumer slammed his Republican counterparts on the Senate floor, calling ongoing arguments on the matter a "sham."

"We don't even have a final bill to amend," Schumer said, adding that the process was "never an open and transparent."

A bipartisan group of 10 governors urged the Senate to reject the skinny repeal. "Instead, we ask senators to work with governors on solutions to problems we can all agree on: fixing our unstable insurance markets," a letter to Senate Majority Leader Mitch McConnell and Schumer said.

Some Democratic and Republican lawmakers tore down the Health Care Freedom Act late Thursday on the Senate floor.

Senate Republicans have proposed and wrangled over several versions of health care bills this week in a last-ditch effort to repeal Obamacare, officially known as the Affordable Care Act.

Despite multiple failures and potentially devastating assessments by the CBO, President Donald Trump has pushed his Republican allies to put together a bill he can sign.

NOW WATCH: Watch Jared Kushner speak publicly for the first time since joining Trump's administration