Inflation Reduction Act extends ACA premium payments to 2025, offers low to no premium payments for low income Americans
NATIONAL NEWS- As the inflation reduction act makes its way through the house, health care advocates are praising one key measure that will keep costs down for the 13 million Americans that rely on the Affordable Care Act.
Advocates say the new bill is preserving American Rescue expansions to Obama-care premium coverage that was set to expire in 2022, keeping the expanded eligibility and coverage until at least 2025.
But the measure also goes further and makes sure that the poorest Americans, those earning less than $19,000 a year, have their premiums fully covered and expands coverage, and discounts for those earning under $51,000 a year.
For Obamacare recipients higher on the payscale they say the measure will also increase coverage and decrease costs by an average of 800 dollars a year.
In a rally Thursday, members of Maryland Health Care for all called the measure a profound victory for middle and low-income Americans.
“At least 200 percent of the poverty line or below you are completely covered by the affordable care act and new subsidies above that start with small co-pays you have to make but the vast majority of people will be paying little in premiums,” said MHCA Director Vinny Demarco.
He says with the lower costs now secured, their groups will focus on making the expansions permanent.