Health and Human Services Secretary Xavier Becerra Confirms Rep. Craig Bill Would Lower Out of Pocket Costs and Premiums for Minnesotans

By: Insurance News Network – 5/13/21

WASHINGTON, May 13 — Rep. Angie Craig, D-Minnesota, issued the following news release on May 12, 2021:

Health and Human Services Secretary Xavier Becerra testified before Congress that reinsurance legislation like U.S. Representative Angie Craig’s State Health Care Premium Reduction Act would lower out of pocket costs and premiums even further for many Minnesotans. Representative Craig highlighted her bill and other key health care priorities during a House Energy and Commerce Health Subcommittee hearing with the Secretary.

During her questioning, Secretary Becerra also confirmed that provisions of the American Rescue Plan have lowered health care premiums for Americans and agreed that they should become permanent.

The American Rescue Plan builds on the Affordable Care Act (ACA) by significantly expanding the subsidies in the ACA Marketplaces to cover more middle class families and to be more generous for those already receiving them, for 2021 and 2022. Specifically, it removes the current cap that makes any family with income above 400% of the poverty level ineligible for any subsidies. Additionally, the American Rescue Plan ensures that no one will have to pay more than 8.5 percent of their income for a silver plan in the ACA marketplaces.

“My top priority in Congress is to lower the cost of health care and prescription drugs and improve access for all Americans,” said Representative Craig. “Last month, I was proud to reintroduce a bill called the State Health Care Premium Reduction Act that would provide HHS with funding to help states set up reinsurance or extend financial assistance to folks on the individual market.”

As a leader on health care issues, Representative Craig has introduced the State Health Care Premium Reduction Act which would help states create reinsurance programs to lower the costs of health care premiums. Additionally, Representative Craig has introduced the More Help for Seniors Act of 2021, which would help low-income seniors and individuals with disabilities afford life-saving medications by lowering copays and premiums for Medicare Part D.

Read more here.