[Congressional Record Volume 163, Number 97 (Wednesday, June 7, 2017)]
[Senate]
[Pages S3330-S3331]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mrs. FEINSTEIN (for herself, Ms. Hassan, Ms. Warren, Ms. 
        Harris, Ms. Baldwin, Mr. Leahy, and Mrs. Gillibrand):
  S. 1307. A bill to amend the Internal Revenue Code of 1986 to expand 
eligibility to receive refundable tax credits for coverage under a 
qualified health plan; to the Committee on Finance.
  Mrs. FEINSTEIN. Mr. President, I rise today to introduce the 
Affordable Health Insurance for the Middle Class Act, a common sense 
fix to improve affordability of health insurance on the individual 
market. I am pleased that Senators Hassan, Warren, Harris, Baldwin, and 
Leahy have joined this bill as original cosponsors, and I appreciate 
their support.
  Since its implementation, the Affordable Care Act has helped to 
expand health care and control out-of-pocket costs for millions of 
Americans. Over 20 million people who were previously uninsured now 
have coverage, there are no yearly or lifetime limits on coverage, and 
no one can be denied coverage or charged more based on their gender or 
because of a pre-existing health condition. The Affordable Care Act 
also expanded the individual marketplace, through which 18 million 
people currently get their coverage. Individuals who make between 100 
and 400 percent of the federal poverty level, and who do not have 
affordable employer coverage available to them, can receive a tax 
credit subsidy to help pay for insurance on the individual market. This 
credit limits the cost of insurance at 9.69 percent of an individual's 
income.
  However, someone who makes just one dollar above the income threshold 
immediately loses all federal assistance. This `cliff' unfairly impacts 
middle-income Americans who are by no means wealthy, but who make just 
barely too much to qualify for the tax credit. I am particularly 
concerned about my constituents between the ages of 50 to 64, who are 
facing higher premiums as they age and who need access to health 
services but are not yet eligible for Medicare.
  To address this issue, the Affordable Health Insurance for the Middle 
Class Act would eliminate the current cliff, and instead gradually 
phase out federal assistance based on income. Nobody would pay more 
than 9.69 percent of their income for insurance, and once someone's 
premium fell below this threshold, they would no longer receive federal 
assistance.
  For example, in my hometown of San Francisco, a 60-year-old making 
$50,000 currently pays $946 per month for the second-lowest cost Silver 
plan and does not receive federal assistance. Under this bill, their 
premium would be capped at $404, or 9.69 percent of their income, and 
the tax credit subsidy would cover the rest. This bill would create a 
fairer and more predictable system, ensuring that consumers on the 
individual market know just how much their insurance will cost and will 
have affordable options available. The Affordable Care Act has reduced 
costs and expanded benefits for many Americans, and it is critical that 
we build on this progress to further improve the law--not destroy it.
  The bill is supported by a number of organizations, including the 
American Association of Neurological Surgeons, AANS, Child Welfare 
League of America, Congress of Neurological Surgeons, CNS, Families 
USA, Lung Cancer Alliance, and National Farmers Union.
  This legislation is a simple fix that provides relief for middle-
income

[[Page S3331]]

Americans and strengthens affordability protections for coverage 
through the individual market. I urge all of my colleagues to cosponsor 
the Affordable Health Insurance for the Middle Class Act. Thank you Mr. 
President and I yield the floor.
                                 ______