Will the next Potus sign off on throwing millions of Americans off their health insurance and raising the rates for the rest of us ?
A new report from the Congressional Budget Office (CBO) notes that if Republicans’ get their desire to expire the “enhanced premium tax credits” from the Inflation Reduction Act that help people underwrite the cost of their health insurance, “3.8 million [people], on average, in each year over the 2026-2034 period” will lose their insurance and “insurers will raise premiums for the remaining enrollees.”
No surprise here; as any Republican will tell you, billionaires don’t need help with health insurance, why should the rest of us get assistance? Cynthia Cox, vice president and Affordable Care Act policy researcher at KFF, told CBS News that if Republicans let the tax credits expire, millions of Americans “could go from paying no more than 8.5% of their income to easily paying 20% or more. I imagine a lot of those folks would drop coverage.”
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