Health Care Affordability Act of 2021

Bill: 117-hr-369
Sponsor: full_name: Rep. Underwood, Lauren [D-IL-14]
Introduced: 2021-01-19
Policy area: Taxation
Subjects: Health care costs and insurance

Health care coverage and access

Income tax credits

Poverty and welfare assistance
Latest action: action_date: 2021-02-04
text: Sponsor introductory remarks on measure. (CR H332)

Summaries:
action_date: 2021-01-19
action_desc: Introduced in House
text: <p><strong>Health Care Affordability Act of 2021</strong> </p> <p>This bill revises the tax credit for health care premium assistance to expand the eligibility of low-income taxpayers for such credit and&nbsp; reduce the cost of health care premiums. </p>

tv_txt: I 117th CONGRESS 1st Session H. R. 369 IN THE HOUSE OF REPRESENTATIVES January 19, 2021 Ms. Underwood (for herself, Mr. O'Halleran , Mr. Gomez , Ms. Clarke of New York , Ms. Sewell , Mrs. McBath , Ms. McCollum , Ms. Barragán , Mr. Lawson of Florida , Ms. Porter , Mr. Payne , Mr. Ryan , Ms. DeLauro , Mr. Deutch , and Ms. Scanlon ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to improve affordability and reduce premium costs of health insurance for consumers.

1. Short title This Act may be cited as the Health Care Affordability Act of 2021 . 2. Improve affordability and reduce premium costs of health insurance for consumers (a) In general Section 36B(b)(3)(A) of the Internal Revenue Code of 1986 is amended to read as follows: (A) Applicable percentage The applicable percentage for any taxable year shall be the percentage such that the applicable percentage for any taxpayer whose household income is within an income tier specified in the following table shall increase, on a sliding scale in a linear manner, from the initial premium percentage to the final premium percentage specified in such table for such income tier: In the case of household income (expressed as a percent of poverty line) within the following income tier: The initial premium percentage is— The final premium percentage is— Up to 150.0 percent 0.0 0.0 150.0 percent up to 200.0 percent 0.0 3.0 200.0 percent up to 250.0 percent 3.0 4.0 250.0 percent up to 300.0 percent 4.0 6.0 300.0 percent up to 400.0 percent 6.0 8.5 400.0 percent and higher 8.5 8.5 . (b) Conforming amendment Section 36B(c)(1)(A) of the Internal Revenue Code of 1986 is amended by striking but does not exceed 400 percent . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2021.