WASHINGTON, DC -- U.S. Senator Jack Reed today issued the following statement on the release of a Congressional Budget Office (CBO) analysis that found that health insurance premiums could rise 20 percent if President Trump terminates Cost Sharing Reductions (CSR) payments that help offset the cost to insurers that offer plans with low out-of-pocket costs to poorer Americans under the Affordable Care Act:

 

“President Trump should stop threatening to drive up people’s health care costs and start working on bipartisan solutions to strengthen our health care system. 

 

“This CBO report makes it clear that if President Trump follows through with threats to stop these payments, it will hurt consumers.  CBO estimates that stopping CSR payments would result in a $194 billion increase to the federal deficit from 2017 through 2026.  That is unacceptable.  Instead of deliberately creating uncertainty and causing price spikes, the Trump Administration should guarantee future CSR payments to help keep health care costs down and insurance markets stable.”