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House Committee Chairs Unveil Bill to Make Health Care and Prescription Drugs More Affordable
Energy and Commerce Committee, U.S. House of Representatives
June 24, 2020 "The Patient Protection and Affordable Care Enhancement Act makes health care more affordable by lowering health insurance premiums with strengthened and expanded affordability assistance. Specifically, the legislation expands eligibility for premium tax credits beyond 400 percent of the federal poverty line and increases the size of tax credits for all income brackets. The legislation creates a national reinsurance program to help cover the costs of consumers with expensive medical conditions, which helps lower premiums, and provides funds to states to help lower deductibles and out-of-pocket costs for everyone. It also offers funding to states to establish their own State-Based Marketplaces, which oftentimes have lower premiums. The legislation also makes prescription drugs more affordable by empowering Medicare to negotiate lower drug prices and making those prices available to Americans with private health insurance." [Also available: A one-page summary and a section-by-section.] |
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