The Health Care Affordability Act of 2024 expands tax credits that help people afford health insurance purchased through the Affordable Care Act marketplace. Currently, these credits are only available to people earning up to 400 percent of the federal poverty line, but this bill removes that income cap, making higher-earning families eligible for financial assistance. The legislation creates a sliding scale where people earning more than 400 percent of poverty pay a higher percentage of their insurance premiums, with the maximum contribution capped at 8.5 percent of household income. The changes would take effect on January 1, 2026, affecting millions of Americans who purchase individual health insurance plans. This bill has broad Democratic support in the Senate and aims to make health insurance more accessible and affordable across a wider range of income levels.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.