Capping Costs for Consumers Act of 2024
house
senate
president

Introduced on November 20, 2024 by Kim Schrier
Legislation Details
- Expands cost-sharing reductions for qualified health plans offered through an Exchange.
- Amends Section 1402 of the Patient Protection and Affordable Care Act to apply cost-sharing reductions based on gold level coverage starting January 1, 2026.
- Adjusts eligibility criteria for cost-sharing reductions based on household income levels for plan years before and after January 1, 2026.
- Increases the plan’s share of total allowed costs for eligible insured individuals based on specific income brackets.
- Appropriates necessary funds from the Treasury for payments under the expanded cost-sharing reductions.
- Modifies provisions related to state basic health programs to align with the changes in cost-sharing reductions.
- Changes the premium assistance credit calculation to be based on the second lowest cost gold plan instead of the silver plan, effective for taxable years beginning after December 31, 2025.
Last updated 12/20/2024