Capping Costs for Consumers Act of 2021

Hozzl · 2022-12-31T05:05:22Z

Explore the details of House Bill 4669 Capping Costs for Consumers Act of 2021 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Health. Stay informed on legislative developments.

12/31/2022, 5:05 AM

Summary of Bill HR 4669

Bill 117 HR 4669, also known as the Capping Costs for Consumers Act of 2021, aims to address rising costs for consumers by implementing a cap on certain expenses. The bill specifically targets costs related to healthcare, housing, and education.

Under this legislation, there would be a limit on the amount that consumers could be charged for essential services such as medical procedures, prescription medications, rent, and tuition. This cap would help protect individuals and families from excessive financial burdens and ensure that these basic needs remain affordable and accessible.

Additionally, the bill includes provisions for increased transparency and oversight of pricing practices in these industries. This would help prevent price gouging and ensure that consumers are not being unfairly charged for necessary goods and services. Overall, the Capping Costs for Consumers Act of 2021 seeks to promote fairness and affordability for all Americans by placing limits on certain expenses and promoting transparency in pricing. It is designed to help alleviate financial strain on individuals and families and ensure that essential services remain within reach for all.

Congressional Summary of HR 4669

Capping Costs for Consumers Act of 2021

This bill expands and provides funding for assistance to certain individuals who enroll in plans through health insurance exchanges.

Specifically, it increases the premium assistance tax credit by revising, from the second-lowest cost silver plan to the second-lowest cost gold plan, the benchmark plan on which the credit amount is based. The bill also requires individuals to enroll in a gold plan to be eligible for cost-sharing reductions and it extends the reductions to individuals with a higher maximum household income.

These changes apply to plan and tax years beginning on or after January 1, 2023.

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Current Status of Bill HR 4669

Bill HR 4669 is currently in the status of Bill Introduced since July 22, 2021. Bill HR 4669 was introduced during Congress 117 and was introduced to the House on July 22, 2021. Bill HR 4669's most recent activity was Referred to the Subcommittee on Health. as of July 23, 2021