Underwood introduces law to permanently cut health care costs

WASHINGTON – Today, ahead of the Affordable Care Act’s 13th anniversary, Rep. Lauren Underwood (IL-14) will reintroduce the Affordable Care Act.

The short-term version of the Health Care Affordability Act is Inflation control law, a family of four can save an average of $2,400 in annual premiums on Marketplace plans. But that provision is set to expire in 2025, leaving millions of Americans facing huge health insurance premium increases. The Health Care Affordability Act makes those savings permanent.

Underwood’s legislated enhanced premium tax credits have led to historic medical savings. Over 16.3 million — Including over 340,000 Illinoisans — Signed up for Marketplace coverage during the 2022-2023 open registration period. This is the highest number of registrations ever.

“My Affordable Care Act has historically expanded insurance coverage.” Underwood said. “This law will make quality and affordable health care available to millions of people, some for the first time. should build on our historic progress in expanding coverage, affordability and equity.”

As a registered nurse, Underwood came to Congress to expand access to quality, affordable health care for all Americans. lower health insurance premiums by making health insurance more generous and accessible to more Americans. This would result in no American paying more than her 8.5% of household income in premiums, and most paying far less.

This law is included in the American Relief Plan Act and the Inflation Reduction Act, so:

  • A family of four saves an average of $2,400 annually Regarding the cost of medical insurance premiums.

  • 4 out of 5 customers can find a plan for $10 or less per month After tax deduction.

  • Health equity has improved historically in the United Statesregistered 49% of Black consumers, 53% of Hispanic consumers, 32% of Native American and Alaska Native consumers, and 6 of Asian American, Native Hawaiian, and Pacific Islander consumers % Increased has.

  • Record-breaking number of Americans registered for coverage — HealthCare.gov signups are up nearly 50% from January 2021 to January 2023.

The Health Care Affordability Act has been endorsed by 15 organizations. Supporting statements can be found here:

Unidos US: “During the pandemic, Congress has put market health insurance within reach for millions of working Latino families who cannot afford it. The Health Care Affordability Act would make the increase in premium tax credits permanent, keep insurance coverage help protect the health and well-being of others.” – Eric Rodriguez, Senior Vice President, Policy and Advocacy, UnidosUS

Protect our care: “Rep. Underwood has been an advocate for reducing healthcare costs since day one, and her legislation to make premiums more affordable for those who buy their own insurance has helped record numbers of Americans make it affordable. By making more affordable insurance a permanent feature of our health system, the Adequate Healthcare Act of 2023 will ensure that these expanded coverages are protected. and ensure that millions of families can continue to pay for the health care they need without sacrificing other basic needs such as gas, child care, rent. We will especially help rural Americans, seniors and other groups who have historically struggled to access quality coverage. It’s time for Congress to pass this bill so people can get the life-saving care they need.” – Leslie Duck, President, Protect Our Care

Family America: “Families USA is proud to support the Health Care Affordability Act. Enacting this measure will help fulfill the Affordable Care Act’s full promise to protect families and provide affordable health care for all in America. It will be an important step.” – Jen Taylor, Senior Director of Federal Relations, Families USA

First focus campaign for children: “We are committed to helping millions of families access affordable, quality medical insurance by making permanent the enhanced premium tax credit established in the American Rescue Plan,” said Underwood. We are happy to support your Congressman’s legislation: Helping families save on health insurance premiums is a direct investment in helping our children grow up strong and healthy. We deserve nothing more.” – Bruce Lesley, President, First Focus Campaign for Children

American Medical Association: “The Adequate Healthcare Act of 2023 is a significant piece of legislation that permanently expands eligibility for higher premium tax credits for market-based insurance under the Adequate Healthcare Act. We know firsthand that patients may not be able to access affordable health care and insurance if it becomes too expensive, and the ACP strongly supports this, ensuring that patients are not negatively impacted by additional medical costs. and can lead to poor health.” – Ryan D. Mire, MD, MACP President, American College of Physicians

Majority of SMEs: John Arensmeyer, Founder and CEO of Small Business Majority, said: “Thanks to the Affordable Care Act (ACA), more small business owners, employees and the self-employed can afford health insurance despite the challenges caused by the pandemic. A key provision of the Inflation Reduction Act that increased the ACA’s premium tax credit through 2025 was a welcome move, which welcomed Rep. Underwood’s support for the introduction of the Affordable Care Act of 2023. That’s why. By making these subsidies permanent, millions of sole proprietors, small business owners, and their subsidized employees can access low premiums and affordable health insurance. You will continue to have access. – John Arensmeyer, Founder and CEO, Small Business Majority

Asian and Pacific Islander American Health Forum (APIAHF): “Under the American Rescue Plan and the Inflation Reduction Act, Asian American, Native Hawaiian, and Pacific Islander families will benefit from lower out-of-pocket health care premiums through the Premium Tax Credit through 2025. We applaud Congressman Underwood for his continued insistence on making these important tax credits a permanent solution. As we continue to navigate the complex landscape to access, legislation like this remains critical to closing the gap in health insurance coverage.” – Juliet K. Choi, President and CEO, Asia and Pacific Islander American Health Forum (APIAHF)

United States of Care: “Millions of Americans now enjoy more affordable health care through the ACA marketplace, thanks to the enhanced pre-premium tax credits of the American Rescue Plan Act. to make valuable subsidies of the United States of Care permanent so that families across the country can continue to rely on accessible, budget-friendly health care.United States of Care’s mission is to make care more affordable, reliable and affordable. To create a health care system that truly works for people by promoting policies that make it more flexible, personalized and understandable. We urge you to pass legislation to make this important cost-saving measure a lasting reality.” – Natalie Davis, CEO and Co-Founder, United States of Care

Young Invincible: “We look forward to continuing the fight for healthcare affordability and access in Congress through the Healthcare Affordability Act introduced by Rep. Lauren Underwood. Enrollment hits record levels benefiting from American Rescue Planning Act and Inflation Control Act felt among communities with lowest school enrollment rates as youth ACA premium subsidy By extending the money, we can ensure these benefits and extend their access to even more Americans.” – Martha Sanchez, Health Care Policy Director, Young Invinibles


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