
White House Reverses $10B in Cuts to ACA Cost-Sharing Subsidies
The White House has decided to reverse roughly $10 billion in cuts to the cost-sharing subsidies that were part of the Patient Protection and Affordable Care Act. That program was originally expected to be slashed by 7.3 % in fiscal 2015 and beyond as part of the sequester cuts.
The White House has decided to reverse roughly $10 billion in cuts to the cost-sharing subsidies that were part of the
But
The cost-sharing subsidies get less attention than the tax credits, which are available to individuals making up to 400% of the federal poverty level to purchase plans through the state and federal exchanges. The subsidies are intended to help low-income individuals cover co-payments, deductibles and other out-of-pocket costs. They are available to individuals with incomes up to 250% of the federal poverty level who purchase plans that are designed to cover at least 70% of their medical costs.
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Source: Modern Healthcare
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