Health Care Affordability Act of 2023
The bill amends the Internal Revenue Code of 1986 to improve affordability and reduce health insurance premium costs for consumers. It modifies the applicable percentage table used to determine a taxpayer's contribution based on household income tiers. Additionally, the bill removes the provision limiting applicable percentages to incomes not exceeding 400 percent of the poverty line, extending the table to incomes at 400 percent and higher.
Key points
Modification of the applicable percentage table to reduce premium costs for consumers.
Removal of the limitation restricting applicable percentages to incomes not exceeding 400 percent of the poverty line.
Amendments apply to taxable years beginning after December 31, 2022.
Expired
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