Summary
A new plan proposed by Republicans may increase health care premiums for many Americans. This plan involves extending tax credits temporarily while phasing out subsidies for higher-income individuals. The plan aims to change how financial assistance is given to those buying health insurance.
Key Facts
- The plan is called the Consumer Affordability and Responsibility Enhancement (CARE) Act.
- It was co-introduced by Senator Bernie Moreno, a Republican from Ohio.
- During the COVID pandemic, extra tax credits helped 24 million Americans get coverage.
- The new plan would phase out these credits for people earning over $200,000 annually.
- A minimum $25 monthly payment for health care will be required to avoid zero-cost plans.
- Critics say this proposal could raise premiums, especially impacting middle-income and older adults.
- Some lawmakers say the plan is a temporary measure to manage affordability without major disruptions.
