Health Insurance Marketplace Affordability Act of 2021

Hozzl · 2022-12-31T05:05:54Z

Explore the details of House Bill 4572 Health Insurance Marketplace Affordability Act of 2021 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/31/2022, 5:05 AM

Summary of Bill HR 4572

Bill 117 HR 4572, also known as the Health Insurance Marketplace Affordability Act of 2021, aims to make health insurance more affordable for Americans by expanding access to premium tax credits through the Health Insurance Marketplace. The bill proposes to increase the amount of premium tax credits available to individuals and families, making it easier for them to afford health insurance coverage.

Additionally, the bill seeks to cap the amount that individuals and families have to pay for health insurance premiums based on their income. This would help ensure that no one is burdened with unaffordable premiums, regardless of their financial situation.

Furthermore, the Health Insurance Marketplace Affordability Act of 2021 includes provisions to improve outreach and enrollment efforts, making it easier for individuals to sign up for health insurance through the Marketplace. This would help increase the number of Americans who have access to affordable health insurance coverage. Overall, the goal of Bill 117 HR 4572 is to make health insurance more affordable and accessible for all Americans, ultimately improving the overall health and well-being of the population.

Congressional Summary of HR 4572

Health Insurance Marketplace Affordability Act of 2021

This bill modifies the refundable tax credit for health care premium assistance to require an age rate adjustment to the applicable percentage used to determine the amount of such credit. The age rate adjustment for any individual shall be determined using a single national age rating curve specified in guidance by the Department of Health and Human Services and shall reflect market patterns in the individual health care market.

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Current Status of Bill HR 4572

Bill HR 4572 is currently in the status of Bill Introduced since July 20, 2021. Bill HR 4572 was introduced during Congress 117 and was introduced to the House on July 20, 2021. Bill HR 4572's most recent activity was Referred to the Subcommittee on Health. as of July 20, 2021

Bipartisan Support of Bill HR 4572

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 4572

Primary Policy Focus

Taxation

Potential Impact Areas

- Health care costs and insurance

- Income tax credits

Alternate Title(s) of Bill HR 4572

To amend the Internal Revenue Code of 1986 to provide an age rating adjustment to the applicable percentage used to determine the credit for coverage under qualified health plans.

Health Insurance Marketplace Affordability Act of 2021