Senate Hearing Highlights Need for Income Caps on ACA Premium Subsidies

During a Senate Health, Education, Labor, and Pensions committee hearing, Senator Susan Collins focused on the affordability issues within the Affordable Care Act. She highlighted concerns about the lack of income caps on enhanced premium tax credits, noting that high-income families, such as a family of four earning $325,000 annually, currently qualify for these subsidies. Experts, including Joel White from the Council for Affordable Health Coverage, and a representative from Capitol Benefits Group, discussed the need for a reasonable income cap and the absence of asset tests as key areas for reform to ensure fairness and sustainability.