GA US House District 5 issued the following announcement on Aug. 13.
Today, Congresswoman Nikema Williams (GA-05) released a new report prepared by the staff of the Committee on Oversight and Reform highlighting health care savings available to residents of Georgia’s Fifth District as a result of the American Rescue Plan. The report reveals that the average Fifth District household could save $2,300 annually. The American Rescue Plan lowers health care costs for millions of Americans who purchase private insurance by reducing premium contributions and expanding access to premium tax credits. Congresswoman Williams voted for the American Rescue Plan in March.
“The American Rescue Plan makes quality, affordable health care accessible in the Fifth District,” said Congresswoman Williams.“This new report demonstrates the savings available to consumers if they take advantage of the increased and expanded tax credits. This is critical relief for families hurting due to the coronavirus crisis.”
Congresswoman Williams urges people in the Fifth District who are uninsured or who purchase their health insurance through the federal marketplace to sign up for the American Rescue Plan’s enhanced tax credits on HealthCare.gov or by calling (800) 318-2596. In order to take full advantage of the American Rescue Plan’s savings, households in the district should sign up on HealthCare.gov by August 15, 2021, to enroll in a new insurance plan or update their information.
Below are findings from today’s new report:
- There are an estimated 32,000 people in the Fifth District who currently purchase health insurance on the individual market and could benefit from the American Rescue Plan.
- The average household could save an annual $2,300 in health insurance premiums.
- For example, a family with two individuals aged 40, two children, and a household income of $75,000 could see their annual premiums for the benchmark Silver plan cut by over 40%, generating $2,976 in annual savings.
- Others in the district who were previously ineligible to receive tax credits but now qualify under the American Rescue Plan will also benefit. Their savings could be substantial, especially for older adults, who have historically paid the highest premiums.
- For example, a single individual aged 64 who makes $52,000 could see annual premiums cut by 65%, generating $8,112 in annual savings.
- There are an estimated 48,000 uninsured individuals in the district eligible for tax credits under the American Rescue Plan.
Original source can be found here.
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