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1 1 (January 5, 2018)

handle is hein.congrec/keidnsubl0001 and id is 1 raw text is: O CONGRESSIONAL BUDGET OFFICE Keith Hall, Director U.S. Congress Washington, DC 20515 January 5, 2018 Honorable Orrin Hatch Chairman Committee on Finance U.S. Senate Washington, DC 20510 Re: Updated Cost Estimate for S. 1827, the Keep Kids' Insurance Dependable and Secure Act of 2017 Dear Mr. Chairman: The Congressional Budget Office and the staff of the Joint Committee on Taxation (JCT) have updated their estimate of S. 1827, the Keep Kids' Insurance Dependable and Secure Act of 2017, to account for the enactment of Public Law 115-97, which repealed the penalties related to the individual health insurance mandate starting in 2019, and to account for administrative action. The agencies now estimate that enacting this legislation would increase the deficit by $0.8 billion over the 2018-2027 period. S. 1827 would extend federal funding for the Children's Health Insurance Program (CHIP) for five years, through fiscal year 2022. The bill also would make several other changes to CHIP, including a change in the federal matching rate for the program and extension of the requirement that states maintain eligibility levels as they were in 2010. Compared with the October 20, 2017, cost estimate for the legislation, this cost estimate shows a cost over the next 10 years that is smaller by $7.5 billion.1 The net change in the deficit is significantly smaller than the agencies' prior estimate primarily because the offset to the cost of funding CHIP for five years is larger. That offset, which reduces direct spending related to the marketplaces, is higher for three main reasons: 1. See Congressional Budget Office, cost estimate for S. 1827, the Keep Kids' Insurance Dependable and Secure Act of 2017 (October 20, 2017), www cbo.goy/ublication/53234.

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