The bill would extend the increased premium tax credit through 2027 and set a household income limit of 700% of the federal poverty level for the credit. It would let people choose to have advance payments sent to their health insurer or, for people with bronze or catastrophic coverage, to a Personal HSA. If they make neither choice, payments would go to them directly. The bill would also require a minimum amount that people must pay toward premiums, authorize funding for cost-sharing reduction payments, and direct agencies to help health insurance exchanges check immigration status and eligibility for the credit.
If you qualify for the premium tax credit, the bill would continue the increased credit for tax years 2026 and 2027. You could choose how advance payments are sent, subject to the plan rules in the bill. The bill also provides for immigration status and eligibility checks. Most provisions would apply after 2025; the eligibility check for whether a lawfully present immigrant is an eligible alien would apply after 2026.
The bill authorizes funding for cost-sharing reduction payments in amounts the Treasury Secretary determines are needed, in consultation with the Health and Human Services Secretary. It sets no specific dollar amount. It also directs the Secretaries to set a uniform minimum premium responsibility, but does not specify that amount.
No publicly available information.
No publicly available information.