Helping Seniors Afford Health Care Act

Hozzl · 2022-12-30T10:48:28Z

Explore the details of House Bill 5040 Helping Seniors Afford Health Care Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Health. Stay informed on legislative developments.

12/30/2022, 10:48 AM

Summary of Bill HR 5040

Bill 117 HR 5040, also known as the Helping Seniors Afford Health Care Act, aims to address the rising costs of healthcare for senior citizens in the United States. The bill was introduced in the House of Representatives and is currently under consideration.

The main provisions of the bill include:

1. Increasing funding for Medicare and Medicaid programs to ensure that seniors have access to affordable healthcare services. 2. Expanding eligibility for financial assistance programs to help seniors with limited incomes afford their healthcare expenses. 3. Implementing measures to reduce the out-of-pocket costs for prescription drugs and medical treatments for seniors. 4. Providing incentives for healthcare providers to offer discounted services to seniors, especially those living in rural or underserved areas. 5. Establishing a task force to study and recommend additional ways to improve access to affordable healthcare for seniors. Overall, the Helping Seniors Afford Health Care Act aims to address the financial challenges that many senior citizens face when trying to access necessary healthcare services. The bill is currently being reviewed by Congress, and its impact on seniors' access to healthcare will be closely monitored.

Congressional Summary of HR 5040

Helping Seniors Afford Health Care Act

This bill alters eligibility standards and related processes for several programs that provide premium and cost-sharing assistance to low-income Medicare beneficiaries.

Among other things, the bill expands income eligibility for the Qualified Medicare Beneficiary Program and the Specified Low-Income Medicare Beneficiary Program to up to 135% and 200% of the federal poverty level (FPL), respectively, and provides an enhanced Federal Medical Assistance Percentage (i.e., federal matching rate) to state Medicaid programs for expenditures related to the expansion. The bill also repeals the Qualifying Individual Program (which currently provides premium assistance to beneficiaries with incomes between 120% and 135% of the FPL).

Read the Full Bill

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Current Status of Bill HR 5040

Bill HR 5040 is currently in the status of Bill Introduced since August 17, 2021. Bill HR 5040 was introduced during Congress 117 and was introduced to the House on August 17, 2021. Bill HR 5040's most recent activity was Referred to the Subcommittee on Health. as of August 18, 2021

Bipartisan Support of Bill HR 5040

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 5040

Primary Policy Focus

Health

Alternate Title(s) of Bill HR 5040

Helping Seniors Afford Health Care Act

To amend titles XVIII and XIX of the Social Security Act to reduce cost-sharing, align income and resource eligibility tests, simplify enrollment, and provide for other program improvements for low-income Medicare beneficiaries.

Helping Seniors Afford Health Care Act