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Last month, we marked the 16th anniversary of the Affordable Care Act, the landmark law that extended health insurance to millions of Americans while also setting standards for what that insurance must cover.
Since then-President Barack Obama signed the law into effect in 2010, the uninsurance rate in America was cut by nearly half, with nearly 40 million Americans gaining health insurance coverage. Americans can no longer be denied insurance because they’ve had cancer, been pregnant or receive treatment for a chronic illness. Wellness exams, pregnancy, and mental health and substance use disorder services must be covered by health insurance, and young adults can gain coverage under their parents’ plans.
Despite these big societal benefits, Republican lawmakers have worked for years to repeal or weaken the law. It’s notable that they haven’t successfully done so even when they’ve controlled both chambers of Congress and the White House. In 2017, Sen. Susan Collins cast a key vote to protect the ACA from a partial repeal. She was met with a round of applause at the Bangor airport after that vote.
President Donald Trump has pledged, for nearly a decade, to unveil a better health care plan. What he’s offered has been insufficient and would result in millions of Americans losing coverage.
Despite its flaws, the ACA has been a lifesaver for millions of Americans who can now access comprehensive health insurance.
However, that insurance jumped in price for millions of Americans at the start of the year. This prompted millions of Americans to drop their coverage, putting their health and finances at risk.
Despite several opportunities to do so, Congress has failed to pass a fix to this problem. It’s not too late for them to do so.
On Jan. 1, tax credits that had made insurance purchased through the Affordable Care Act marketplace more affordable for millions of Americans expired. As a result, premium costs for self-employed Americans and business owners who bought health insurance through the ACA’s marketplace rose substantially, doubling and even tripling in some cases.
The failure of Democrats and Republicans to reach agreement on an extension of the subsidies was partially responsible for a government shutdown last year. The government reopened, but the subsidies were allowed to expire.
The Republican-controlled House unexpectedly passed legislation in January to reinstate the subsidies. It has languished in the Senate.
There are several proposals to reinstate the tax credits, including a plan offered by Sen. Collins that would extend the subsidies while capping income eligibility.
The Affordable Care Act has proven its value. Rather than leaving millions of Americans without coverage, Congress must finish the job of reinstating the tax credits that made health insurance affordable to them. Not only is this the right thing to do, but it will show that lawmakers hear and understand the concerns of Americans struggling to pay for necessities, like health insurance.
