Last week, the House voted 230-196 to pass a package to extend the ACA’s enhanced premium tax credits for an additional three-years, after they expired at the end of 2025 without a new deal. The package was passed using a discharge petition, forcing a vote in the chamber over the objections of Republican leadership, with 17 House Republicans voting in favor of the extension. The package will next head to the Senate where it is unlikely to be considered in its current form, after the Senate already voted down two health care packages in December.
The vote is significant because it may pave the way for a comprehensive health care package early this year. Argentum has been meeting with lawmakers since late last year on a potential comprehensive health care package, and we have been advocating for two bipartisan pieces of legislation that would help more Americans access and afford long-term care:
- H.R. 138 & S. 1565, The Lowering Costs for Caregivers Act– Bipartisan legislation to allow health savings accounts and flexible spending accounts to be used by adult children on medical expenses for their parents. Senate Health, Education, Labor, and Pensions Chairman Bill Cassidy (R-LA) is the primary Republican sponsor and has long-championed expanding the use of HSAs and FSAs.
- H.R. 2036 & S. 925, The Credit for Caring Act – Bipartisan legislation to establish a tax credit of up to $5,000 to help offset long-term care expenses. The amount of the credit would be 30 percent of the qualified expenses paid or incurred by the family caregiver above $2,000; the credit gradually decreases for incomes above $150,000 for joint-filers and zeroes-out at incomes of $200,000.
Senate lawmakers are working on a potential compromise package on the ACA subsidies and other health items, with negotiations being led by Senators Jeanne Shaheen (D-NH), Bernie Moreno (R-OH) and Susan Collins (R-ME). Moreno has signaled he would need a majority of Republican senators to advance a bill, meaning it would not be a mostly Democratic led push, and has favored a proposal that would extend open enrollment until March 1, include income caps at 700% of the poverty line, replace $0 premium plans with $5 premiums and allow individuals to choose whether the enhanced subsidies go directly toward premiums or into health savings accounts. Majority Leader John Thune (R-SD) reiterated that any package would need to have to get a big vote among Republicans.
Argentum recently met with Senator Bill Cassidy (R-LA), Chair of the Senate Health, Education, Labor and Pensions (HELP) Committee, to reinforce the message on the need to help more Americans access and afford long-term care and that senior living is an essential part of the long-term care continuum.