AARP: GOP repeal could raise seniors' healthcare cost by $16K a year

Sept. 21 (UPI) -- A new study Thursday by the American Association of Retired Persons found that the Republicans' proposed healthcare repeal bill could hike costs substantially for older Americans.

The Graham-Cassidy effort to repeal the Affordable Care Act "threatens to make health care unaffordable and inaccessible for millions of older Americans," the AARP report said.

On average, a 60-year-old earning $25,000 a year could see their healthcare payments rise by as much as $16,174 a year -- due to premiums and out-of-pocket costs, according to the study.

"The bill eliminates two sources of financial assistance -- premium tax credits and cost-sharing reductions -- critical to ensuring that low- to moderate-income older adults are able to afford the coverage they need," the report stated.

AARP also pointed out that the total increase in premium and out-of-pocket costs in some states, including Alaska and Arizona, is significantly larger.

"For instance, a 60-year old Alaskan earning $25,000 could pay as much as $31,790 more to keep her current coverage. In Arizona, that person could pay as much as $22,074 more," the study says. "This increase is simply unaffordable."

The AARP report came as Republican lawmakers continue to try and find support for the bill -- the latest in a number of attempts to scrap the Obama-era healthcare law under President Donald Trump's administration.

Earlier this week, it was reported that the Congressional Budget Office -- an independent federal agency that evaluates proposed legislation -- would not have enough time to issue an analysis on the Graham-Cassidy bill before the Sept. 30 deadline.