MIL-OSI: Austin Group Health Insurance Regards American Rescue Plan Expensive In 2021

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Source: GlobeNewswire (MIL-OSI)

Austin, United States , June 05, 2021 (GLOBE NEWSWIRE) — Group health insurance in Austin has seen a significant increase in signups since the current administration enacted its pandemic relief legislation a few months ago. More and more Americans are getting the affordable healthcare they need, but federal experts are still up in arms as they worry about lack of accountability over an initiative they say will ultimately cost taxpayers nearly $45 billion when the dust settles.

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Biden’s $1.8 trillion American Rescue Plan temporarily expanded tax subsidies for insurance plans to help people hurt financially during the pandemic to afford coverage. While that is all well and fine, according to the office of United States Senator Pat Toomey, a letter has been sent to President Joe Biden demanding that his administration exercise greater oversight over the expansion of Affordable Care Act premium tax credits. The concern is that Biden has no plans to verify enrollment eligibility for the expanded subsidies outlined in the American Rescue Plan, including for people who have Austin small business health insurance. They also asked the administration to provide “additional details on the structure of the improper payment program … the status of the development of the improper payment rate for state-based exchanges, and a timeline for completion of both improper payment rates.”

Rick Thornton, a group health insurance agent in Austin, says it’s time for lawmakers on both sides to stop worrying about the possible ramifications and pay attention to the good that is happening. More than 1 million Americans who were previously uninsured or underinsured have the affordable healthcare they need since the program started in March. Unemployment benefit recipients are also eligible for subsidies and cost sharing reductions during 2021 that will undoubtedly add more benefits, and Americans are also overwhelmingly in support of the latest maneuver.

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