Thread by @charles_gaba

📣 ⚠️ MAJOR UPDATE: How much will @CoveredCA’s expanded/enhanced #ACA subsidies reduce YOUR premiums? THREAD:

acasignups.net/19/11/27/major…

@CoveredCA In October, I posted an analysis of @CoveredCA’s expanded subsidies, showing how they’ll reduce 2020 premiums for both those who didn’t previously qualify for subsidies *and* those already receiving them. However, I was using the wrong table for my calculations! 2/

@CoveredCA The ACTUAL expanded subsidy formula is even MORE generous! Therefore, w/apologies to @CoveredCA, @aewright & @healthaccess, I’ve re-run the numbers & graphs to show how much different households in Sacramento, CA will save if they #GetCovered for 2020! 3/

acasignups.net/19/11/27/major…

@CoveredCA @aewright @healthaccess First, let’s look at SINGLE ADULTS. A 26-year old adult *currently* receiving subsidies will save up to an *additional* $330/year if they #GetCovered at CoveredCA.com. 4/

@CoveredCA @aewright @healthaccess A single 40-year old will save up to $330/yr if the already receive subsidies…but those who HAVEN’T been eligible until now will also safe up to $890/yr! 5/

@CoveredCA @aewright @healthaccess A single 50-year old will save up to $330/yr if they already receive subsidies…but if they haven’t been eligible up until now, they’ll save up to $3,200/yr if they #GetCovered at CoveredCA.com! 6/

@CoveredCA @aewright @healthaccess What about a single 64-year old?? Until now, they’d have to pay up to 27% of their income on premiums. Thanks to CoveredCA.com’s expanded subsidies, if they earn between $50-$75K/yr, they’ll save up to $8,700/year! 7/

@CoveredCA @aewright @healthaccess What about a single parent of a young child? They’ll save up to an additional $446/yr if they already receive subsidies, and up to nearly $2,000/yr if they haven’t qualified until now! 8/

@CoveredCA @aewright @healthaccess Here’s a “nuclear family”: A 40-year old couple with 2 children age 12 & 10. Thanks to CoveredCA.com’s expanded subsidies, they’ll save up to an additional $680/yr if they currently receive subsidies, and up to *$8,400* if they don’t. 9/

@CoveredCA @aewright @healthaccess Here’s a 50-year old couple with an adult child still on their policy (also allowed thanks to the #ACA). If they receive subsidies already, they’ll save an additional $563/yr.

And if they haven’t qualified until now, they could save up to $12,200. Seriously. 10/

@CoveredCA @aewright @healthaccess FINALLY, in 2019, a 60-year old couple earning just over 400% FPL ($68K/yr) would have to pay over 36% of their income in premiums.

Thanks to CoveredCA.com’s expanded subsidies, in 2020 that’ll be cut down to <10%, saving them $18,000/yr.

That’s not a typo. /11

@CoveredCA @aewright @healthaccess On each of these graphs, the orange section shows the official #ACA subsidy formula. The blue section shows @CoveredCA’s expanded subsidies. The *green* section shows what what premium limits would look like under #HR1868, the core of #ACA2.0. 12/

@CoveredCA @aewright @healthaccess Under #HR1868, *no one’s* premiums for a benchmark plan would go above 8.5% of their income no matter what. CoveredCA.com’s expansion only gets partway there, but it’s still a huge improvement over the current situation. #GetCovered TODAY! 13/

@CoveredCA @aewright @healthaccess I also strongly urge EVERYONE to ask your member of Congress to cosponsor and support passing #HR1868 and/or #HR1884 if they don’t already! /END
congress.gov/bill/116th-con…

congress.gov/bill/116th-con…