On 11th Anniversary of the Affordable Care Act, Rep. Casten Highlights Key Health Care Savings for Illinois Families Thanks to Historic American Rescue Plan
Downers Grove, IL – Today, Rep. Casten marked the 11th anniversary of the landmark Affordable Care Act (ACA) by highlighting transformative health care savings for hard-working Illinoisans thanks to the Biden American Rescue Plan. The plan builds on the ACA's critical benefits by lowering the cost of coverage and expanding eligibility for federal subsidies to millions of Americans.
"For 11 years, the ACA has stood alongside Social Security, Medicare and Medicaid as a pillar of health and economic security for millions of Illinois families," said Rep. Casten. "In the middle of a pandemic that's killed 543,000 Americans, infected over 29.9 million, and left tens of millions of people without jobs and uninsured, access to affordable care is essential. Protecting our families, our communities, and our economy requires that we build on the progress of the Affordable Care Act to lower health costs and prescription drug prices. The American Rescue Plan expands these ACA provisions, and will make health care more accessible and affordable for Illinoisans and their families. "
Under the American Rescue Plan's affordability enhancements for the Affordable Care Act, Illinoisans won't have to pay more than 8.5 percent of household income on a benchmark silver plan in the Marketplace plan per year. For Illinois, the Biden American Rescue Plan will:
- Create significant savings for many Illinoisans in the marketplaces. For example, a 60-year-old Illinoisan couple earning $75,000 per year, under the American Rescue plan, will see their premium payments lowered by $1,266 per month.
- Further reduce the cost of health care coverage for consumers currently receiving financial assistance, including 19,600 Illinoisans with incomes below 150 percent of the poverty level who will now be eligible for plans with a zero dollar monthly premium.
- Make 130,500 currently uninsured Illinoisans newly eligible for receiving subsidies to make their health coverage more affordable in the Marketplaces.
These improvements build on the landmark protections the Affordable Care Act for Americans no matter where they get health coverage, including:
- Protections for 135 million Americans with pre-existing conditions;
- An end to insurance companies charging women more than men for the same coverage;
- A ban insurers placing annual and lifetime caps on coverage;
- Guaranteed essential health benefits including requirements that insurance companies cover prescription drugs and maternity care;
- Key support for rural hospitals;
- Lower prescription drug costs for nearly 12 million seniors;
- Allows young people to stay on their parent's health insurance until age 26.