The Cost of ObamaCare’s Coverage Provisions

The coverage provisions of ObamaCare will cost $1.165 trillion over ten years, according to a new CBO report. The healthcare law covers 27 million people who would previously be uninsured. (UPDATED)

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Correction appended 5:33 p.m.
ObamaCare CBO Chart

The Congressional Budget Office (CBO) estimated Tuesday that the “ObamaCare” provisions to expand health insurance coverage will cost about $1.165 trillion over the next ten years, after taking into consideration $455 billion worth of penalty payments, taxes, and other effects on tax revenue and outlays.  This chart doesn’t take into account Medicare savings (potentially hundreds of billions of dollars) and the like, only how much the coverage provisions will cost.  While the net cost of the coverage provisions remains the same as the prior CBO report, there have been revisions in regards to how many people will be covered over the next ten years.

After the new revisions, CBO estimates about 12 million more people will be covered by Medicaid and 26 million more by those who buy insurance in the new exchanges.  Seven million people will lose their employer-based insurance as businesses prefer to pay a fine than their employees’ health insurance, but overall, 27 million more people will be insured over the next ten years.

You can find the full CBO report here and find the above table on page 60.

Correction: A previous version of this post incorrectly suggested that the chart showed the net cost of the Affordable Care Act. It has been clarified to reflect that the chart only shows the cost of the ACA’s coverage provisions. TIME regrets the error.