The #COVIDRelief bill making its way through House committees this week includes vital provisions that would make comprehensive coverage more affordable and accessible for millions of people. More in this new @CenteronBudget paper: cbpp.org/research/healt… 1/5
Under the proposal, people with income below 150 percent of the poverty line (about $19,000 for a single person and $39,000 for a family of four) would pay no premiums for a benchmark plan, after accounting for premium tax credits. 2/5
Other folks would see big premium drops. A single individual making $30,000 would pay $85 rather than $195 per month in premiums for a benchmark plan with reduced deductibles and other cost-sharing. A family of four making $50,000 would pay $67 per month rather than $252. 3/5
And no marketplace enrollee would pay more than 8.5% of income for a plan -- helpful to those with a high premium burden who have income over 400 percent FPL. So a typical 60-year-old making $60,000 would see their premiums cut by more than half, or $535 per month. 4/5
The bill also boosts the incentive for 14 states that have not yet implemented the Medicaid expansion to quickly do so. If they move forward, nearly 4 million uninsured low-income adults, including about 640,000 essential or front-line workers, could gain coverage. 5/5
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