The Congressional Budget Office has updated the baseline budget projections it published earlier in the year, and included in the changes is updated estimations of the budgetary effects of the major provisions of the Patient Protection and Affordable Care Act.
The CBO and the staff of the Joint Committee on Taxation currently project that PPACA provisions will result in $1.2 billion net cost to the federal government from 2016 to 2025, which is 11 percent less than the agencies estimated in January 2015.
There are two key factors that resulted in the change in estimates since January. They are:
• A downward revision in the projection of health insurance premiums
• New data about the sources of health insurance coverage and the number of people without coverage in previous years
Additionally, the agencies now project that the government's net costs for exchange subsidies and related spending and revenues over the 2016 to2025 period will be $849 billion. Also, the federal cost of the additional enrollment in Medicaid and CHIP under the PPACA over the same period will be $847 billion.
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