CBO says Cassidy "keep your plan" bill would raise $1 billion

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A proposal by Rep. Bill Cassidy (R-La.) that would let people keep cheap group health plans outlawed by ObamaCare would bring in more than $1 billion in tax revenue over the next decade, according to a report released by the Congressional Budget Office on Tuesday.

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Cassidy’s “keep your plan” bill would let insurers continue to sell the cheap group plans, even if they don’t meet new standards of the Affordable Care Act. At least 2 million people would likely sign up for the less expensive plans by 2016, the budget office said. But as more people sign up for the group plans, other health care customers will likely see their premiums spike. The new sign-ups would likely be younger and healthier adults seeking less extensive and cheaper coverage, according to the budget office. Without those people enrolling in the more expansive health plans, the cost of those plans is likely to rise. The bill would reduce the deficit by a total of $1.25 billion because the pool of taxable dollars would increase as employees spend less on health care premiums, which cannot be taxed. His proposal would bring in about $60 million in 2015 alone.

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