The Bankruptcies That Would Follow an Obamacare Repeal

Senate Republicans are working to pass legislation scaling back government support for health coverage, with Majority Leader Mitch McConnell calling for a vote on Tuesday to begin debate on a bill whose precise contents remain unknown. “Every Republican running for office promised immediate relief from this disastrous law,” President Trump said on Monday, referring to Obamacare. “But so far, Senate Republicans have not done their job in ending the Obamacare nightmare.”

Even without more specifics on the details of the legislation, one thing is clear: The options under consideration would increase the number of uninsured by 15 to 30 million over the next 10 years, the Congressional Budget Office has estimated. A consequence of this will be not only a loss of access to medical services, but an increase in financial crises for millions of American families. Insurance, after all, is also a financial product, protecting people from