Senate votes to extend American Rescue Plan subsidy enhancements
Minneapolis, MN, Aug. 07, 2022 (GLOBE NEWSWIRE) -- Healthinsurance.org released this statement today following the passage of the Inflation Reduction Act (IRA) in the U.S. Senate. The IRA extends the American Rescue Plan’s health insurance subsidy enhancements through 2025, preventing them from expiring at the end of this year. The measure will be considered next by the House of Representatives.
From Louise Norris, health policy analyst for healthinsurance.org:
“This is excellent news for the 13 million Americans who rely on premium subsidies to make marketplace health coverage affordable. Larger and more widely available subsidies have led to record-high marketplace enrollment.
“Without action from Congress, millions of people will likely see their subsidies decrease or disappear in 2023, and 3 million current enrollees might lose their coverage altogether. The Senate’s vote to pass this legislation is a step toward ensuring these hard working Americans will still be able to afford their health coverage next year, and we hope to see it pass quickly in the House.”
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