[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 8 Introduced in Senate (IS)]
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118th CONGRESS
1st Session
S. 8
To amend the Internal Revenue Code of 1986 to expand eligibility for
the refundable credit for coverage under a qualified health plan, to
improve cost-sharing subsidies under the Patient Protection and
Affordable Care Act, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
January 23 (legislative day, January 3), 2023
Mrs. Shaheen (for herself, Mr. Blumenthal, Ms. Smith, Ms. Baldwin, Mr.
Kaine, Mr. Reed, Mr. Casey, Ms. Stabenow, Ms. Klobuchar, Mr. Cardin,
Ms. Hassan, Mr. Bennet, Ms. Cortez Masto, and Mrs. Gillibrand)
introduced the following bill; which was read twice and referred to the
Committee on Finance
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to expand eligibility for
the refundable credit for coverage under a qualified health plan, to
improve cost-sharing subsidies under the Patient Protection and
Affordable Care Act, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Improving Health Insurance
Affordability Act of 2023''.
SEC. 2. INCREASE IN ELIGIBILITY FOR CREDIT.
(a) In General.--Subparagraph (A) of section 36B(c)(1) of the
Internal Revenue Code of 1986 is amended by striking ``but does not
exceed 400 percent''.
(b) Applicable Percentages.--
(1) In general.--Subparagraph (A) of section 36B(b)(3) of
the Internal Revenue Code of 1986 is amended to read as
follows:
``(A) Applicable percentage.--The applicable
percentage for any taxable year shall be the percentage
such that the applicable percentage for any taxpayer
whose household income is within an income tier
specified in the following table shall increase, on a
sliding scale in a linear manner, from the initial
premium percentage to the final premium percentage
specified in such table for such income tier:
------------------------------------------------------------------------
The initial The final
``In the case of household income (expressed premium premium
as a percent of poverty line) within the percentage percentage
following income tier: is-- is--
------------------------------------------------------------------------
Up to 150 percent............................. 0 0
150 percent up to 200 percent................. 0 2.0
200 percent up to 250 percent................. 2.0 4.0
250 percent up to 300 percent................. 4.0 6.0
300 percent up to 400 percent................. 6.0 8.5
400 percent and up............................ 8.5 8.5.''.
------------------------------------------------------------------------
(2) Conforming amendments relating to affordability of
coverage.--
(A) Subparagraph (C) of section 36B(c)(2) of such
Code is amended by striking clause (iv).
(B) Paragraph (4) of section 36B(c) of such Code is
amended by striking subparagraph (F).
(c) Limitation on Recapture.--Clause (i) of section 36B(f)(2)(B) of
the Internal Revenue Code of 1986 is amended--
(1) by striking ``400 percent'' and inserting ``800
percent'';
(2) by striking the period at the end of the last row of
the table; and
(3) by adding at the end of the table the following new
rows:
------------------------------------------------------------------------
``At least 400 percent but less than 600 percent........... $3,500
At least 600 percent but less than 800 percent............ $4,500.''.
------------------------------------------------------------------------
(d) Premium Cost Standard.--
(1) In general.--The following provisions of section 36B of
the Internal Revenue Code of 1986 are each amended by striking
``silver'' each place it appears and inserting ``gold'':
(A) Paragraphs (2)(B)(i), (3)(B), and (3)(C) of
subsection (b).
(B) The heading of subparagraph (B) of subsection
(b)(3).
(C) Subsection (c)(4)(C)(i)(I).
(2) Conforming amendments to reduced cost-sharing.--Section
1402(b)(1) of the Patient Protection and Affordable Care Act
(42 U.S.C. 18071(b)(1)) is amended by striking ``silver'' and
inserting ``gold''.
(e) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2023.
SEC. 3. ENHANCEMENTS FOR REDUCED COST-SHARING.
(a) Modification of Amount.--
(1) In general.--Section 1402(c)(2) of the Patient
Protection and Affordable Care Act (42 U.S.C. 18071(c)(2)) is
amended--
(A) by striking ``150 percent'' in subparagraph (A)
and inserting ``200 percent'',
(B) by striking ``94 percent'' in subparagraph (A)
and inserting ``95 percent'',
(C) by striking ``150 percent but not more than 200
percent'' in subparagraph (B) and inserting ``200
percent but not more than 300 percent'',
(D) by striking ``87 percent'' in subparagraph (B)
and inserting ``90 percent'',
(E) by striking ``200 percent'' in subparagraph (C)
and inserting ``300 percent'',
(F) by striking ``250 percent'' in subparagraph (C)
and inserting ``400 percent'', and
(G) by striking ``73 percent'' in subparagraph (C)
and inserting ``85 percent''.
(2) Conforming amendment.--Clause (i) of section
1402(c)(1)(B) of such Act (42 U.S.C. 18071(c)(1)(B)) is amended
to read as follows:
``(i) In general.--The Secretary shall
ensure the reduction under this paragraph shall
not result in an increase in the plan's share
of the total allowed costs of benefits provided
under the plan above--
``(I) 95 percent in the case of an
eligible insured described in paragraph
(2)(A);
``(II) 90 percent in the case of an
eligible insured described in paragraph
(2)(B); and
``(III) 85 percent in the case of
an eligible insured described in
paragraph (2)(C).''.
(3) Effective date.--The amendments made by this subsection
shall apply to plan years beginning after December 31, 2023.
(b) Funding.--Section 1402 of the Patient Protection and Affordable
Care Act (42 U.S.C. 18071) is amended by adding at the end the
following new subsection:
``(g) Funding.--Out of any funds in the Treasury not otherwise
appropriated, there are appropriated to the Secretary such sums as may
be necessary for payments under this section.''.
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