Health Care Affordability Act of 2024

Taxation

senate

house

president

Introduced on September 25, 2024 by Jeanne Shaheen

Cosponsors (45)

Legislation Details

Last updated 11/6/2024

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Amends the Internal Revenue Code of 1986 to expand eligibility for the refundable credit for coverage under a qualified health plan.
Removes the income cap of 400 percent of the federal poverty line for eligibility.
Introduces a sliding scale for applicable percentages based on household income as a percentage of the poverty line.
Sets the initial premium percentage to 0% for households with income up to 150% of the poverty line.
Gradually increases the premium percentage for higher income tiers, reaching a maximum of 8.5% for households with income at or above 400% of the poverty line.
Includes conforming amendments to ensure affordability of coverage by removing certain subparagraphs related to affordability.
The changes will take effect for taxable years beginning after December 31, 2025.