US President Joe Biden (C) signs the Inflation Reduction Act with Senate Majority Leader Charles … [+]
Expect the country’s uninsured rate to drop to record lows as health insurers expand Obamacare to more states and counties.
The national uninsured rate is already just 8%, thanks to investments made by the Biden administration and Congress to strengthen the Affordable Care Act and expand health insurance options to more Americans. declining.
Now the Biden White House is “doubling down” with bigger investments and regulatory changes to improve access to individual insurance known as Obamacare. Last month, the Biden administration announced a “historic investment of nearly $100 million” in a “navigator” that helps connect people to health insurance.
Additionally, the Inflation Reduction Act Biden signed into law last month expands subsidies to millions of Americans who buy Obamacare. These subsidies, which have been temporary since passage of the American Relief Plans Act last year, provide increased financial assistance to those already eligible to purchase health insurance under the ACA and also provide such assistance. extended subsidies to mostly middle-class Americans. According to analysis by the Kaiser Family Foundation.
“Now that the Inflation Control Act is enacted, an estimated 13 million people continue to save an average of $800 a year on marketplace health insurance, and consumers will benefit from President Biden’s rescue plan for America in 2021 and 2022. We will continue to save,” the Centers for Medicare and Medicaid Services said last week.
Health insurers have responded by beginning an unprecedented expansion into new markets to sell Obamacare and related coverage under the ACA. For example, CVS Health last month said its Aetna health insurance division had received final approval to add four new states to its portfolio of individual health insurance options, bringing the total to 12 states, with Cigna last week , said it will expand its sales business. His three new state separate coverage under the 2023 ACA will total 16 next year.
Other health insurers are also expected to announce expansions soon.
Expanding health insurers say expansion should continue to reduce the number of uninsured people.
Lisa Ruff, president of Cigna’s Individual and Family Plans business, said in announcing Cigna’s plans to expand Obamacare: Target year 2023.
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