Summary
The U.S. Senate is preparing to vote on two health care proposals that will influence the cost of health insurance for millions. The Democratic plan aims to extend enhanced tax credits that reduce premiums, while the Republican plan proposes Health Savings Account deposits and other changes.
Key Facts
- Senate Majority Leader John Thune announced votes on the proposals following a government shutdown over health care costs.
- Democrats want to extend current premium tax credits for three more years, which help make insurance more affordable.
- The enhanced credits remove income caps for eligibility, allowing more people to get help based on insurance costs relative to their income.
- Republicans propose one-time deposits into Health Savings Accounts (HSAs) instead of extending premium subsidies.
- HSAs are accounts where people can save money tax-free for medical expenses.
- Both plans need 60 Senate votes to pass, but they are unlikely to get that support.
- The enhanced credits will expire soon, raising premiums if not extended, while the Republican plan does not directly reduce premiums.
