President Biden and former President Obama make announcement.
President Joe Biden met with former President Barack Obama for a working lunch on Tuesday. Afterward, they announced that more families would become eligible for subsidized health plans under Obamacare starting next year.
Through a Treasury Department rule, the administration will close the “family glitch” in the Affordable Care Act, also known as Obamacare. Under current law, a single person can get an affordable health plan capped at 10 percent of their income, but that lower rate is not extended to family members who are included in their relative’s plan. Because the law does not consider the increase in premiums for adding dependents to the policy, the cost of coverage for family members can far exceed the 10 percent threshold.
“It’s a common issue facing 5 million Americans who can’t get financial help to get coverage under the Affordable Care Act,” President Biden said. “We’re going to change that. Once today’s proposed rule is finalized, starting next year, working families in America will get the help they need to afford full family coverage for everyone in the family.”
The White House projected that the executive order would give 200,000 uninsured people coverage and nearly 1 million people would see their premiums go down.
As the Lord Leads, Pray with Us…
- For Treasury Department officials as they close the loophole that excluded millions from federal health subsidies.
- For the president and his administration to seek God’s direction as they address national health care and health insurance.
- For wisdom and discernment for the president as he and his advisors determine the focus of their efforts in foreign and domestic matters.
Sources: Washington Examiner, Wall Street Journal
