The ACA marketplaces are critical for people who lose their jobs & insurance in an economic downturn. Here’s how Congress can help folks land softly. [thread]
First, lower premium costs by boosting tax credits so people at the bottom of the income scale pay nothing for the benchmark silver plan.
Lowering premiums helps people enroll/stay enrolled and gives them more monthly cash for other urgent spending needs. Even a temporary boost helps.
Second, protect people w/ fluctuating incomes from big premium credit repayments. When people lose jobs, it’s hard to predict income with precision.
The ACA protects some people in this situation from large repayment obligations, but the caps should be extended to all and made more protective.
Third, allow more working families to qualify for help. Base tax credit eligibility for an employee’s family on the cost of *family* coverage. It’s common sense.
Fixing the “family glitch” is long overdue and more important than ever to help families that have been stretched too thin for too long pay for coverage.
Fourth, open up marketplace enrollment to anyone who loses a job, regardless of whether they had insurance before.
CMS doesn’t need Congress for this: it has the authority to enact a special enrollment period for anyone losing a job. Do it now.
CMS can do other things: Accept attestations of income & job loss w/o paperwork. Start coverage sooner. Staff up the call center. Fund in-person assisters.
The marketplace was built for this: it can catch millions of people who lose work & provide flexible income-based help. Let’s help the marketplace do its job.
