Bill > HR6316

This bill proposes several modifications to the tax credit system for health insurance premiums, primarily extending and adjusting existing provisions of the Affordable Care Act. The bill extends the premium tax credit (a government subsidy that helps individuals and families pay for health insurance) through 2027 and raises the household income cap to 700 percent of the federal poverty level, allowing more people to qualify for the credit. It introduces a new option for individuals with bronze or catastrophic health plans to have their premium tax credits deposited directly into a new type of Health Savings Account (HSA) called a "Personal HSA," which can only receive advance premium payments and rollovers from other Personal HSAs. The bill also establishes a mechanism for the government to set a uniform minimum premium responsibility amount, which would limit the total premium assistance an individual can receive. Additionally, the bill includes provisions for authorizing appropriations for cost-sharing reduction payments and enhancing the determination of immigration status for premium tax credit eligibility, with a specific congressional sense that credits should not be available to individuals who are not lawfully present in the United States. Most of these changes would take effect for taxable years beginning after December 31, 2025.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/6316/all-info