Bill > S2434

This bill, titled the Family Coverage Act, aims to ensure working families have access to affordable health insurance. It amends Section 36B of the Internal Revenue Code of 1986, which deals with health insurance premium tax credits. Specifically, it clarifies what constitutes "affordable" employer-sponsored health coverage by setting a new threshold: coverage is considered unaffordable if the employee's required contribution for themselves and their family members exceeds 9.5 percent of the applicable taxpayer's household income. The bill also expresses the sense of Congress that the Secretaries of Health and Human Services and the Treasury have the administrative authority to interpret existing affordability provisions to expand access to affordable health insurance without needing further legislation. These changes are intended to take effect for taxable years beginning after December 31, 2013.