13.9 million policy holders. Unless Congress passes the subsidies package set to expire. The cost? 70 BILLION dollars.
What's the hold up in passing these subsidies you ask? Democrats have once again attached the subsidies to a wishlist of crap items as part of a larger, bloated, nonsense Bill.
Another BLACKMAIL BILL.
But it is the Democrats who will suffer as the 13.9 million policy holders are the people who can least afford these policies without subsidies.
Health insurers are now submitting to state regulators proposed 2023 premiums for plans offered on the Affordable Care Act (ACA) Marketplaces. Changes in these unsubsidized premiums attract a lot of attention, but what really matters most to the people buying coverage is how much they pay out of their own pockets. And the amount ACA Marketplace enrollees pay is largely determined by the size of their premium tax credit. Generally speaking, when unsubsidized premiums rise, so do the premium tax credits, meaning out-of-pocket premium payments hold mostly steady for people getting financial assistance.
For just over a year, ACA Marketplace enrollees have benefited from enhanced tax credits under the American Rescue Plan Act (ARPA), which Congress passed as temporary pandemic relief. The enhanced assistance lowers out-of-pocket premiums substantially, and millions of enrollees saw their premium payments cut in half by these extra subsidies. ACA Marketplace signups reached a record high of 14.5 million people in 2022, including nearly 13 million people who received tax credits to lower their premiums.
Soon, the vast majority of these nearly 13 million people will see their premium payments rise if the ARPA subsidies expire, as they are set to at the end of this year.
Middle class people making more than 400 percent of the federal poverty line would be especially hard hit, given that they would go back to not being eligible for any financial assistance and have to pay the full cost of their premiums.
thehill.com
This is WHAT HAPPENS when the Federal Gov't interferes with Health Insurance. No competition, no savior. No innovation. No incentive for any company to come in and shake things up.
Once again, Republicans were 100% right.
Obama said premiums would decrease and boy was he dead wrong.
What's the hold up in passing these subsidies you ask? Democrats have once again attached the subsidies to a wishlist of crap items as part of a larger, bloated, nonsense Bill.
Another BLACKMAIL BILL.
But it is the Democrats who will suffer as the 13.9 million policy holders are the people who can least afford these policies without subsidies.
Health insurers are now submitting to state regulators proposed 2023 premiums for plans offered on the Affordable Care Act (ACA) Marketplaces. Changes in these unsubsidized premiums attract a lot of attention, but what really matters most to the people buying coverage is how much they pay out of their own pockets. And the amount ACA Marketplace enrollees pay is largely determined by the size of their premium tax credit. Generally speaking, when unsubsidized premiums rise, so do the premium tax credits, meaning out-of-pocket premium payments hold mostly steady for people getting financial assistance.
For just over a year, ACA Marketplace enrollees have benefited from enhanced tax credits under the American Rescue Plan Act (ARPA), which Congress passed as temporary pandemic relief. The enhanced assistance lowers out-of-pocket premiums substantially, and millions of enrollees saw their premium payments cut in half by these extra subsidies. ACA Marketplace signups reached a record high of 14.5 million people in 2022, including nearly 13 million people who received tax credits to lower their premiums.
Soon, the vast majority of these nearly 13 million people will see their premium payments rise if the ARPA subsidies expire, as they are set to at the end of this year.
Middle class people making more than 400 percent of the federal poverty line would be especially hard hit, given that they would go back to not being eligible for any financial assistance and have to pay the full cost of their premiums.
Worries about coming ObamaCare premium spikes intensify
Democrats are growing increasingly concerned that a spike in ObamaCare premiums could hit this fall right before the midterm elections. The party is already facing major headw…
thehill.com
This is WHAT HAPPENS when the Federal Gov't interferes with Health Insurance. No competition, no savior. No innovation. No incentive for any company to come in and shake things up.
Once again, Republicans were 100% right.
Obama said premiums would decrease and boy was he dead wrong.
