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President Biden’s administration plans to expand the availability of coverage under the Affordable Care Act, citing a “glitch” that has prevented around 5 million people from qualifying for subsidized health plans.
The White House will be pushing forward an amendment to the program that will allow families with health insurance through an employer to receive financial assistance paying for the coverage. Under the proposed change, households that spend 10% or more on health care insurance will not qualify for financial assistance.
Biden “will take additional action to further strengthen the ACA and save families hundreds of dollars a month on their health care,” the White House said. But Biden officials provided few details on how much the expansion would cost, or how it would be paid for.
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Under the current guidelines of the program, “reasonable” employer-based health insurance is a disqualifying factor in applications for ACA assistance. Affordable has previously been defined as under 10% of income.
Former President Barack Obama and President Joe Biden
(Joe Biden/Instagram)
However, this metric fails to account for the skyrocketing premiums for individual family members on the same plan, which have become an increasing burden on low-income households.
The proposed change would go into effect in January 2023.
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The announcement comes as former President Barack Obama makes an in-person return to the White House for the first time since 2017.
Vice President Joe Biden whispers “This is a big f—— deal,” to President Barack Obama at the health bill ceremony at the White House, March 23, 2010.
(AP Photo/J. Scott Applewhite, File)
The former president will “deliver remarks celebrating the success of the Affordable Care Act and Medicaid in extending affordable health insurance to millions of Americans,” a White House official said.
The event is intended to draw attention to Biden’s domestic agenda, which has been marred by record-high inflation and a sluggish economic recovery, and overshadowed by Russia’s continued invasion of Ukraine.
Fox News’ Lawrence Richard contributed to this report.
