Chairman Neal Comments at Press Event Unveiling the Patient Protection & Affordable Care Enhancement Act

Jun 24, 2020
Press Release
(As prepared for delivery)
 
I’m honored to be with you all today to introduce the Patient Protection & Affordable Care Enhancement Act.
 
We are still very much in the midst of this pandemic. There is no better time to increase access to high-quality health care while lowering costs than now, especially as Republicans continue their efforts to dismantle our health care system and eliminate protections for millions of Americans with pre-existing conditions.
 
In response to the devastating challenges Americans are facing due to COVID-19, the Ways and Means Committee contributed provisions in this legislation to expand tax credits to lower premiums on the Marketplace.
 
For the first time in the history of the ACA, no person will pay more than 8.5 percent of their income on a silver plan from the Marketplace.
 
We also recognized the record numbers of newly unemployed Americans who will be looking for health coverage through the Marketplace and made sure they can now qualify for subsidies.
 
I’ll quickly share a few examples of how this legislation can improve health coverage affordability:
  • A family of four earning $40,000 would save nearly $1,600 in premiums each year;
  • An adult earning about $19,000 would see premiums cut to zero, saving $800 dollars a year; and
  • And a 64-year-old earning $57,400 would save more than $8,700 in premiums each year.
  • These really are significant savings that would make a big difference for Americans during this crisis.
 
The well-being and financial security of workers and families nationwide are at stake. We must act quickly to pass this urgently-needed legislation.
 
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