President-Elect Joe Biden has a new health insurance plan for America once he is inaugurated as President on January 20th. He plans to build on the existing Affordable Care Act as opposed to creating an entirely new plan. Below is a synopsis of The Biden Plan to Protect and Build on The Affordable Care Act.
- Expand eligibility for tax credits for more than 400% of poverty level (current limit)
- Calculate tax credits based on Gold Plans (currently based on Silver)
- Capping premiums at 8.5% of family income (currently 9.86%)
- If a family is covered by an employer plan but the individual marketplace plan would be less (due to […]