Us Congress 2023-2024 Regular Session

Us Congress House Bill HB10438

Caption

To expand cost-sharing reductions with respect to qualified health plans offered through an Exchange, and for other purposes.

Impact

The impact of HB 10438 on state laws lies primarily in its modification of how cost-sharing reductions are calculated for insurance plans. By shifting from silver to gold-level plans, the legislation aims to reduce out-of-pocket expenses significantly for eligible insureds. This adjustment will require states to update their health plan structures and financial assistance programs in compliance with the new federal guidelines. Additionally, it is anticipated to affect a broad range of citizens who rely on health exchanges for insurance coverage, improving their economic security and health outcomes.

Summary

House Bill 10438, titled the 'Capping Costs for Consumers Act of 2024', aims to enhance cost-sharing reductions for individuals enrolled in qualified health plans through an Exchange. The bill proposes amendments to Section 1402 of the Patient Protection and Affordable Care Act to facilitate a transition from silver-level coverage to gold-level coverage for eligible insureds starting in 2026, thereby increasing the affordability of health insurance for many citizens. This change is positioned to provide better financial support for individuals, especially low-income households, making healthcare coverage more accessible.

Contention

Notable points of contention surrounding HB 10438 include concerns about the long-term sustainability of increased funding for cost-sharing reductions. Some legislators fear that the shift to gold-level plans may impose too great a burden on the federal budget and lead to increased premiums over time. Additionally, there is debate among stakeholders regarding whether these amendments will genuinely lead to improved access to care, as some argue that higher-tier plans may not be suitable for all consumers, particularly those who may prefer lower-cost options for basic coverage.

Companion Bills

No companion bills found.

Previously Filed As

US HB10188

Capping Costs for Consumers Act of 2024

US HB10439

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US SB8

Improving Health Insurance Affordability Act of 2023 This bill expands the eligibility of taxpayers for the refundable tax credit for coverage under a qualified health plan and increases cost-sharing subsidies under the Patient Protection and Affordable Care Act.

US HB6857

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US HB10409

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US SF196

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US HB3004

ACCESS Act Affordable Care Coverage Expansion and Support for States Act

US HB10173

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US HB10509

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US HB10529

To provide for the reform and continuation of agricultural and other programs of the Department of Agriculture through fiscal year 2029, and for other purposes.

Similar Bills

No similar bills found.