Biden Stimulus Increase Cut Obamacare Plan Premiums by 40%

[douglas9]

(Bloomberg) -- Monthly premiums for health coverage through the Affordable Care Act federal marketplace fell an average of 40% because of a boost in subsidies from government stimulus funds, the Biden administration said.

More than 1.5 million people have enrolled in health plans through the HealthCare.gov marketplace since the administration opened a special window Feb. 15. Another 2.5 million who already had coverage took advantage of expanded assistance created by the American Rescue Plan stimulus that President Joe Biden signed into law in March.

Biden has prioritized expanding enrollment and lowering premium costs in the ACA exchanges, a reversal from his predecessor Donald Trump, who sought to dismantle Obamacare. The shift has boosted enrollment for companies like Centene Corp. that sell ACA coverage and enticed other insurers back to the marketplace. CVS Health Corp. said Wednesday that its Aetna unit planned to offer plans in new states next year.

https://www.bloombergquint.com/onweb/biden-stimulus-increase-cut-obamacare-plan-premiums-by-40

[CrispyQ]

1. My premium went down $153!!

That is a nice chunk of change in my family! Big difference!

[Indykatie]

2. The Increase in Obamacare Subsidies Have Gotten Very Little Attention in the Media

I know a retired couple who aren't eligible for Medicare yet who are saving $6000 a year for their coverage because of the changes in the subsidy structure. Their retirement income exceeded the threshold to qualify for any subsidy before the change. These 2 Biden voting Republicans were shocked and very happy.

[Diamond_Dog]

3. My monthly insurance premium

Under the ACA went from $261/mo. down to $97 since the expanded assistance became available!

Of course under Trumps regime, it increased by $50/mo.

I agree this kind of news should be shouted from the rooftops!