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The New Jersey Life Sciences Vendors Alliance (NJLSVA) is a coalition of businesses, individuals and academia who provide goods and services to New Jersey’s life sciences companies.

The NJLSVA was founded to educate suppliers on trends in industry procurement and public policy that affects the life sciences industry.

New Jersey Policy Perspective Reports: An Obamacare Repeal Without Replacement Will ‘Devastate’ the Garden State

Trenton, NJ, February 22, 2017 — According to a new report from the New Jersey Policy Perspective, if Congress repeals the Affordable Care Act (ACA) — well known as Obamacare — and doesn’t replace it, the loss of coverage for an estimated 800,000 New Jersey residents would be only part of the story, reports Lindy Washburn in The Record/NorthJersey.com.

The report presents county-by-county data about the effect of ACA repeal.

In addition, Livio reports that more than 210,000 seniors who rely on Medicare and have substantial prescription drug needs would face higher out-of-pocket costs.

Also, an estimated $4 billion in federal spending through Medicaid and subsidized premiums would no longer flow to the state.

The resulting loss of jobs, estimated at 86,000 if the law is not replaced, would slow the state’s economy.

The report said:

“In county after county, the numbers are clear: repealing the Affordable Care Act (ACA) without an adequate replacement would devastate New Jersey.

“The greatest harm would be caused by repealing the Medicaid expansion, which would terminate health coverage for about 550,000 low-income New Jerseyans and cost the state about $3 billion in federal funds each year.

“Despite threats by Congress and the President to end the Medicaid expansion, participation increased by another 12,000 in the enrollment period ending last month, demonstrating the urgent need for this coverage.

“In addition, up to about 300,000 New Jerseyans who signed up for a plan in the Marketplace would lose their coverage, and with it a billion dollars in federal funds that pay for premium subsidies to make insurance affordable.

“That is a total $4 billion loss to New Jersey which would result in an estimated loss of about 86,000 jobs and 84 deaths due to lack of insurance.

“Both of those cuts affect mostly working New Jerseyans who are struggling to get by in a state with one of the highest costs of living in the nation, but the elderly would also be harmed by the proposed repeal of the ACA.

“For example, seniors have benefited from the closing of the gap in prescription drugs in Medicare, often referred to as the ‘donut hole.’

“Over 200,000 seniors would lose this assistance that enables them to pay for prescriptions that are often life-saving.  If this benefit is eliminated the average senior would have to pay $1,241 more each year which would force them to choose between paying for their medications or rent.

Commenting on the findings, Ray Castro, a senior analyst with New Jersey Policy Perspective and the author of the report, said, “The more we learn about the proposed repeal of the Affordable Care Act, the more we discover about how harmful it would be to New Jerseyans, particularly at the local level.”

Release of the report on Tuesday was timed to coincide with the congressional recess, when advocates of the law hope to convince Republican members of Congress, back in their districts for the week, that the law should not be repealed.

To access the New Jersey Policy Perspective report and county-impact breakdowns, click here.

For Lindy Washburn’s full story, click here.

Follow Washburn at Twitter @LindyWa.