A new bipartisan report says millions of people will lose their employer-based health insurance coverage under President Obama's healthcare law.

The Congressional Budget Office now predicts 7 to 8 million people will be dropped from their employer's insurance plans. That is up from an estimate of 4 million last August.

The CBO said this year's fiscal cliff deal changed the incentives for businesses and made it less attractive to pay for insurance.

The new health provisions are expected to cost taxpayers $1.165 trillion over the next decade.