Health Care Affordability Act of 2023

Hozzl · 2024-12-21T09:05:25Z

Explore the details of House Bill 1692 Health Care Affordability Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/21/2024, 9:05 AM

Summary of Bill HR 1692

Bill 118 hr 1692, also known as the Health Care Affordability Act of 2023, aims to address the rising costs of healthcare in the United States. The bill focuses on making healthcare more affordable for all Americans by implementing various measures.

One key provision of the bill is the expansion of subsidies for individuals and families purchasing health insurance through the Affordable Care Act marketplace. This would help lower-income individuals afford coverage and reduce the financial burden of healthcare expenses.

Additionally, the bill includes measures to lower prescription drug costs by allowing Medicare to negotiate drug prices with pharmaceutical companies. This would help reduce the overall cost of healthcare for seniors and individuals with chronic conditions who rely on expensive medications. Furthermore, the Health Care Affordability Act of 2023 seeks to improve access to mental health services by increasing funding for mental health programs and expanding coverage for mental health treatments. Overall, the bill aims to make healthcare more affordable and accessible for all Americans, regardless of income or health status. It addresses key issues such as rising insurance premiums, prescription drug costs, and mental health services, with the goal of improving the overall health and well-being of the population.

Congressional Summary of HR 1692

Health Care Affordability Act of 2023

This bill revises the tax credit for health care premium assistance to expand the eligibility of low-income taxpayers for such credit and reduce the cost of health care premiums.

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Current Status of Bill HR 1692

Bill HR 1692 is currently in the status of Bill Introduced since March 22, 2023. Bill HR 1692 was introduced during Congress 118 and was introduced to the House on March 22, 2023. Bill HR 1692's most recent activity was Referred to the Subcommittee on Health. as of December 17, 2024

Bipartisan Support of Bill HR 1692

Total Number of Sponsors

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Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 1692

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 1692

Health Care Affordability Act of 2023Health Care Affordability Act of 2023To amend the Internal Revenue Code of 1986 to improve affordability and reduce premium costs of health insurance for consumers.

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