Massachusetts could lose $1.4 billion in federal Medicaid funding, while several thousand state residents would face uncertainty in their health care coverage if U.S. House Republicans' plan to dismantle the Affordable Care Act becomes law, according to a new report.

The "Overview of the Model and Coverage and Cost Estimates Under the AHCA" study, which the Urban Institute conducted on behalf of the Blue Cross and Blue Shield of Massachusetts Foundation, found that the commonwealth could experience "devastating consequences" if the U.S. House-passed American Health Care Act is signed into law, as is.

Specifically, the state-level analysis found that the AHCA would lead to a $1.4 billion reduction in federal Medicaid funding for Massachusetts in 2022, the year in which the GOP plan would be fully implemented.

To maintain current levels of coverage under MassHealth, the state's Medicaid program, in 2022, Massachusetts would need to find $1.1 billion in replacement funds or make system changes, according to the study.

If that funding, however, is not replaced, 355,000 adults on MassHealth, or one in five enrollees, may be cut from the program -- a move which would increase the state's uninsured rate to as high as 10.3 percent, the report stated.

Another 90,000 Massachusetts resident could further lose health care coverage if the ConnectorCare program, which is supported through state and federal funding, and the current ACA advance premium tax credits are eliminated, the study found.

Audrey Shelto, president of the Blue Cross Blue Shield of Massachusetts Foundation, cautioned that the GOP-backed health care bill could undo much of the state's work to reduce uninsured rates and ensure residents are connected with health coverage.

"The study projects an overwhelming loss in federal revenue that, if not replaced by state funding or addressed through significant changes to the existing Medicaid program, could result in a loss of coverage that leaves us worse off than we were pre-reform in Massachusetts," she said in a statement.

Health Care For All Interim Executive Director Stephen Rosenfeld added that the findings detail "a very bleak set of outcomes, all of which have serious repercussions."

"We can calculate the impact in terms of dollars and statistics. However, behind each number there is a story of a neighbor or a family who will struggle to access the care they need," he said in a statement.

Gov. Charlie Baker, a Republican, has also raised concerns about the AHCA's impact on Massachusetts, recently saying it would "significantly reduce critical funds for the commonwealth's health care system."

To conduct its study, the Urban Institute said it used a state-level version of its Health Insurance Policy Simulation Model, which estimates the cost and coverage effects of proposed health care policies.

The Blue Cross and Blue Shield of Massachusetts Foundation and Health Care For All are co-conveners in the state's Coalition for Coverage and Care, an organization comprised of more than 75 groups and individuals committed to protecting affordable health care coverage.

House lawmakers passed an amended version of the AHCA on a 217 to 213 vote earlier this month -- weeks after Speaker Paul Ryan, R-Wisconsin, canceled initial consideration of the measure due to lagging support.

The bill, which looks to undo much of President Barack Obama's signature health care law through refundable tax credits, overhauls to Medicaid and an expansion of health savings accounts, would allow states to apply for waivers from the federal government to cancel some ACA regulations that would reduce residents' costs -- a move which some critics say could result in people with pre-existing conditions being charged more for insurance.

It would also allocate an additional $8 billion over five years for states seeking a waiver.

Despite passing the House, the bill's fate in the U.S. Senate remains uncertain, according to various reports.