“Once we pass the one-year fixed so people right now aren’t in difficulty, we would sit and negotiate that,” Schumer said. “The leader has said that he won’t negotiate before. We’re willing to negotiate once the credits are extended, plain and simple.”
Moreno responded: “So for one year, people making millions of dollars would still receive these COVID-era subsidies?”
You had to pass the bill to see what is in it.
Get rid of the Affordable Care Act things will improve insurance companies are making billions off of it.
“obtain taxpayer-subsidized health care”
The typical risk is generally less than half the premium. Most of the premium goes to care for a small percentage.
The out-of-pocket maximum should be household income dependent and not a fixed number, perhaps a percentage (30%) of previous 12 months’ income (or the federal disability amount if it could be higher) above maximum SNAP amount for household size plus $500 per household member plus housing, electric and natural gas costs.
You’d have to apply to the insurer to get the benefit of the out-of-pocket maximum.
[The enhanced subsidies are way too generous.]
PARTIAL ENHANCED SUBSIDY CONTINUATION [to 2036]
Except as required by the Fair Share PPACA premium minimums below, the monthly premium to be paid on a plan shall not exceed the Schumer formula amount in terms of dollars by more than 1.5 times the household’s income in percentage terms of FPL that exceeds 90% FPL.
[If the household’s income is 400% of FPL, the percentage difference is 310% and increase would typically be capped at $465/month.]
[If the household’s income is 300% of FPL, the percentage difference is 210% and increase would typically be capped at $315/month.]
FAIR SHARE PPACA PREMIUM MINIMUMS
There shall be premium minimums of the higher of:
1. 1/65th of the Medicare Part B premium amount per insured year of age as of the start of coverage
2. one-tenth the percentage of the policy premium of the household income as a percentage of FPL.
[For a 5-year-old, 7-year-old, 32-year-old and 34-year-old, the ages would sum to 88 and the monthly absolute minimum premium amount would be a (88/65)*$185 or $250.46.]
[For a 5-year-old kid and a 27-year-old mom the ages would sum to 32 and the monthly absolute minimum premium amount would be (32/65)*$185 or $91.07.]
[For the second minimum, a family whose income is 300% of FPL would have to pay at least 30% (one-tenth of 300%) of the cost of the policy.]
[About half the premium is to subsidize unhealthy people. Paying 30% is covering well over 60% of true risks of most insureds.]
Insurers may partially waive the minimums for up to 20% of their issued PPACA policies down to no less than $10/month after the first month’s premium is paid provided $20 is paid upfront for a financial review fee. Insurers need not waive for the entire remaining term.