The legislation lowers health insurance costs, allows negotiations for lower prescription drug prices, and encourages states to expand Medicaid coverage while permanently authorizing a critical children's health insurance program.
"The Affordable Care Act is a transformational law that has improved the lives of millions of Americans, despite a decade of partisan attacks against it," Congresswoman
"I am proud to have joined my colleagues in passing this historic legislation that will provide financial relief and better health to so many hardworking
Package Includes Finkenauer's CARING for Kids Act
In a major win for
Finkenauer introduced the legislation with Republican Congressman
For decades, CHIP has been funded for limited periods at a time, and
The CARING for Kids Act will ensure that never happens again.
"For too long, D.C. politicians have used kids' health care as a bargaining chip in their political games,"
"We advanced this bill on a bipartisan basis, and I look forward to continuing to work with my Republican friends to make sure this commonsense bill becomes law."
Background on Patient Protection & Affordable Care Enhancement Act
The Patent Protection & Affordable Care Enhancement Act:
* Significantly increases the ACA's affordability subsidies to be more generous and cover more middle-class families. For the first time, no person will have to pay more than 8.5 percent of their income for a benchmark silver plan in the ACA marketplaces, and many Americans will see their premiums cut in half or more:
- A family of four earning
- A 64-year-old earning
- A single adult with income of
- An adult earning
* Negotiates for lower prescription drug prices, delivering the power to negotiate lower drug prices so that Americans no longer have to pay more for our medicines than Big Pharma charges for the same drugs overseas. According to a new report from Patients for Affordable Drugs, from January to June, 245 drugs were subject to an average price increase of more than 20 percent. Of these drugs with price hikes by Big Pharma, more than 75 percent directly relate to the COVID-19 crisis, including 30 drugs that are currently in clinical trials for their effect against the virus.
* Expands coverage, pressing Medicaid expansion hold-out states with new carrots and sticks to adopt coverage for the 4.8 million Americans cruelly excluded from coverage, while restoring the outreach and advertising funding that the
* Combats inequity in health coverage faced by communities of color, expanding more affordable coverage to vulnerable populations and fighting the maternal mortality epidemic by requiring states to extend Medicaid or CHIP coverage to new mothers for a full year post-partum.
* Cracks down on junk plans & strengthens protections for people with pre-existing conditions, reversing the