President Trump was expected to announce a legislative proposal related to the enhanced premium tax credits (EPTCs), which are scheduled to expire Jan. 1. Early reports suggested the package would include a two-year extension and introduce an income cap limiting eligibility to individuals earning up to 700% of the federal poverty level. It would also set uniform premiums at 2% of income or a minimum of $5 for lower-tier plans, among other changes.
Nothing is final and several lawmakers and some White House officials are already signaling concerns with the circulating draft.
Hearings Last Week
The Senate Committee on Finance held a hearing on Wednesday, Nov. 19, on the rising cost of health care. Most committee Republicans framed the hearing around what they described as the Affordable Care Act’s (ACA) structural failures and argued that the expiring COVID-era subsidies merely expose long-standing problems baked into the ACA. Committee Democrats focused on the urgent need to extend the EPTCs before Jan. 1, arguing that failure to do so will cause devastating premium spikes, coverage losses, and instability.
The House Committee on Ways and Means Subcommittee on Health held a hearing on Wednesday, Nov. 19, about modernizing care coordination to address chronic diseases. Committee Republicans focused on the rising cost and prevalence of chronic disease, arguing that the American health system spends nearly five trillion dollars while producing worse outcomes than peer nations because it prioritizes treatment over prevention. Committee Democrats centered their message on the expiration of EPTCs, arguing that millions will lose coverage, face premiums that double or triple, or be forced into medical debt, making care coordination and chronic disease management impossible.
Committee Activity This Week
The Senate and House are both out of session this week for the Thanksgiving federal holiday.
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