WASHINGTON – Today, Senator Bernie Moreno (R-Ohio) and Senate Appropriations Committee Chairwoman Susan Collins (R-Maine) will introduce the Consumer Affordability and Responsibility Enhancement (CARE) Act to cap income eligibility and eliminate zero-premium plans.
“Barack Obama and the Democratic Party created this disaster, lining the pockets of massive insurance companies while healthcare costs for everyday Americans skyrocketed,” said Senator Moreno. “But I refuse to let the American people pay the price for the Democrats’ incompetence. I am willing to work with anyone to finally bring down costs for all Americans and hope my colleagues across the aisle will commit to doing the same.”
“Families in Maine and across the country are struggling with the high cost of health care, and we need to pursue practical solutions that increase affordability without creating sudden disruptions in coverage,” said Senator Collins. “This bill would help prevent unaffordable increases in health insurance premium costs for many families by extending the Affordable Care Act enhanced premium tax credits for two years and putting a reasonable income cap on these subsidies to ensure they are going to the individuals who need them.”
Senator Moreno’s CARE Act will provide a temporary Affordable Care Act premium tax credit extension by giving Americans a two-year glidepath off the COVID-era subsidies, end premium tax credits once household income hits $200,000, and require a $25 per month premium.
Click HERE to read more on Senator Moreno’s legislation.