Final CBO analysis: Healthcare bill would cut $834 billion from Medicaid

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The House bill would also result in 23 million more people lacking health insurance by 2026, according to the CBO.
The House bill would also result in 23 million more people lacking health insurance by 2026, according to the CBO.

The version of the American Health Care Act passed by the House earlier this month would cut Medicaid spending by $834 billion over ten years, according to an analysis published Wednesday by the Congressional Budget Office.

Wednesday's report shows less significant Medicaid cuts than the initial $880 billion estimated by the CBO's March analysis of an earlier version of the bill.

In total the GOP's healthcare bill would reduce the federal deficit by $119 billion between 2017 and 2026, $32 billion less than the net savings estimated by the CBO's March report. The report also found 23 million people would lose health insurance by 2026 if the legislation becomes law; that's one million less than the originally estimated 24 million.

The CBO's analysis comes as a Senate group is working on their own healthcare bill that is believed to differ drastically from the House version, especially when it comes to Medicaid provisions. The cost analysis is unlikely to help the House version of the bill's prospects in the Senate, according to published reports.

“We all understand that the House bill has to be essentially rewritten,” Sen. Mike Lee (R-UT), told Fox News. “There is not going to be a whole lot about the Senate bill that looks identical to the House bill.”