A bipartisan group of senators is expected to soon release draft legislation that would revive the expired ACA enhanced tax credits that expired at the end of 2025, Politico reported Jan. 7.
Four things to know:
1. About a dozen lawmakers are working on a plan that would reestablish the ACA subsidies for two years and would add new restrictions, according to the report. Restrictions would include an income limit that would exclude those earning more than about 700% of the federal poverty level. There would also be a $5 per month minimum premium. Insurers could face new fines if people are signed up for subsidized coverage without realizing it.
2. The senators are also discussing an option that would allow those receiving subsidies to opt for the money to go into a pre-funded health savings account during the second year of the extension.
3. Sen. Bernie Moreno, R-Ohio, one of the key negotiators, told Politico that the legislative text could be finalized on Jan. 12.
4. The House is expected to vote Jan. 7 on a proposed three-year extension of the subsidies, according to Politico. The vote follows a Democrat-led discharge petition that received the required 218 signatures in December to force a vote on the extension. The petition received the required number of signatures shortly before the House passed a healthcare package called the “Lower Health Care Premiums for All Americans Act” that did not include a subsidy extension.
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