What is Biden’s healthcare plan?
Biden has said that his plan will insure more than 97% of Americans by introducing a Medicare-like public option for Individuals and Families. His plan also includes strengthening the Affordable Care Act (ACA) by increasing marketplace subsidies.
Does Biden plan to protect Obamacare?
In short, yes. He plans to strengthen Obamacare while Trump had previously focused on weakening the law. Biden plans to strengthen the ACA by lowering costs for those who buy plans on the exchanges.
Currently, the subsidies for the ACA are based on the cost of the middle-coverage “silver plan”, where consumers are responsible for 30% of healthcare costs for covered benefits. Biden proposes determining subsidies on “gold plans” where are the next tier up of coverage, where enrollees are responsible for paying 20% of the cost for covered care.
He also wants to increase subsidies by capping the amount people have to pay for their coverage at 8.5% of their income. Currently, this cap doesn’t apply to those making over 400% of the federal poverty line. He wants to make sure that this cap applies to everyone in the US. This means no American would have to pay more than 8.5% of their annual income on health insurance premiums.
Biden also backs the implementation of a Medicare-like public option for health insurance coverage.
Like Trump, Biden wants to step in and lower drug costs. While proposing many changes, the Trump administration was not able to put any large-scale policies into place. Biden says he will limit launch prices for drugs with no competition. He also says he will cap prescription drug price increases to inflation as a condition to participate in Medicare and his proposed public option for individual and family insurance.
What’s Biden’s COVID-19 healthcare plan?
In response to the COVID-19 epidemic, Biden has created a 3-month long SEP. This means that Obamacare’s open enrollment is reopening from February 15th through August 15th 2021.
Anyone in the 36 states that use the federal health insurance exchange can enroll or switch their coverage.
However, all state-run health insurance exchanges have also announced their own COVID-related special enrollment periods as well:
- California: February 1 to May 15
- Colorado: February 8 to August 15
- Connecticut: February 15 to August 15
- DC: Through the end of the pandemic emergency period
- Idaho: March 1 to April 30
- Maryland: Through August 15 (retroactive coverage is available, depending on when a person enrolls)
- Massachusetts: Through July 23
- Minnesota: February 16 to July 16
- Nevada: February 15 to August 15
- New Jersey: Through November 30
- New York: Through November 15
- Pennsylvania: February 15 to August 15
- Rhode Island: Through August 15
- Vermont: February 16 to May 14
- Washington: February 15 to August 15
Biden has also outlined a plan to respond to COVID-19. According to the White House, the national strategy for the COVID-19 response includes 7 goals:
- Restore trust with the American people
- Mount a safe, effective, comprehensive vaccination campaign
- Mitigate spread through expanding masking, testing, treatment, data, workforce, and clear public health standards
- Immediately expand emergency relieve and exercise the Defense Production Act
- Safely reopen schools, businesses, and travel while protecting workers
- Protect those most at risk and advance equity, including across racial, ethnic, and rural/urban lines
- Restore U.S. leadership globally and build better preparedness for future threats
If you are uninsured or looking to switch your coverage in response to COVID, eHealth is here to help you find a plan that meets your needs during this unprecedented time. Our team of licensed agents can help answer any questions you have and find a health insurance plan that’s right for you. To compare all ACA plans available to you and see if you qualify for an ACA subsidy, compare individual and family health insurance plans today!
