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Joint Economic Committee Democrats Chairman - Rep. Don Beyer (D-VA)

Health Insurance Tax Subsidies in the Build Back Better Act Will Provide Affordable Health Insurance for Millions of Americans

Key Points:
Continuing the enhanced premium tax credits in the Build Back Better Act could help 4.2 million Americans get health insurance
The increased subsidies also reduce health spending for many currently-insured families by 23%, putting more money back in the pockets of low- and middle-income Americans
Studies of the Affordable Care Act find that increasing insurance coverage leads to improved access to care, better health outcomes and more financial stability
District Level Data: JEC includes downloadable tool to highlight how many people the Build Back Better Act will help gain health insurance in each Congressional district

The House’s Build Back Better Act (BBB Act) will expand low-to-middle income families’ access to medical care by extending increased tax credits from the American Rescue Plan (ARP) that make health insurance sold on federal and state marketplaces more affordable. These increased tax subsidies from the ARP have already lowered families’ monthly premiums and out-of-pocket costs, and have helped total enrollment on marketplace plans reach a record high as of August 2021. If Congress makes these subsidies permanent through the BBB Act instead of letting them expire at the end of 2022, researchers estimate that 4.2 million more people will be insured compared to before the ARP was passed. This increase would help millions of families access health care, have more stable household finances and would put more money in their pockets to spend on other necessities.

Use the JEC’s downloadable tool to see how many people the Build Back Better Act will help gain insurance in your district here.

Read the full brief here.