Plano Health Insurance in Jeopardy Due to Expiration of Subsidies

Plano Health Insurance in Jeopardy Due to Expiration of Subsidies

Plano health insurance and the people who have it are waiting with bated breath as blue-state lawmakers figure out how to extend subsidies beyond 2023 for those enrolled in the Affordable Care Act.

According to an article by The Gazzett, over 3 million Americans could lose their health coverage if Congress allows enhanced subsidies for insurance on the ACA exchanges to expire. It is worth noting that if the additional subsidies expire, 3.1 million Americans will no longer have insurance, per the Urban Institute.

That bill was defeated twice - further calling into question the ACA's long- term viability and threatening individuals and families with health insurance in Plano. As the article pointed out, \"Extending the tax credits without simultaneously increasing revenue would increase the federal deficit by about $25.3 billion in 2023.

Over 10 years, the increase would balloon to $305 billion.\" Biden has been calling on Congress to make the subsidies permanent.

Rick Thornton, a Plano health insurance agent , said that while everything appears on paper to be gloom and doom with this new report, the likelihood that millions of Americans will lose coverage with no available options in return is slim to none. Biden has been pushing for permanent subsidies despite his other initiatives and will continue leaning on key decision makers until the job gets done.

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