Senators Collins, Moreno Unveil Legislation to Extend and Reform Enhanced ACA Premium Tax Credits

CARE Act would extend enhanced ACA premium tax credits for two years, establish income cap on subsidies
WASHINGTON, D.C. –Today, U.S. Senators Susan Collins joined Senator Bernie Moreno (R-OH) in introducing theConsumer Affordability and Responsibility Enhancement (CARE) Actto extend the enhanced Affordable Care Act (ACA) premium tax credits for two years, cap income eligibility for these subsidies, and eliminate zero-premium plans under the ACA.
“Families in Maine and across the country are struggling with the high cost of health care, and we need to pursue practical solutions that increase affordability without creating sudden disruptions in coverage,”said Senator Collins.“This bill would help prevent unaffordable increases in health insurance premium costs for many families by extending the Affordable Care Act enhanced premium tax credits for two years and putting a reasonable income cap on these subsidies to ensure they are going to the individuals who need them.”
TheCARE Act, which is led by Senator Bernie Moreno, extends the enhanced ACA premium tax credits and gradually phases out the COVID-era enhancements over two years to prevent sudden coverage disruptions. The bill would also eliminate zero-premium plans by requiring a minimum monthly premium of $25 to promote the long-term sustainability of the program.
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