Congresswoman Nicole Malliotakis (R-NY-11) has introduced the Bipartisan Health Insurance Affordability Act with support from a group of lawmakers across party lines. The bill aims to prevent an increase in health insurance premiums for Americans who rely on Affordable Care Act (ACA) plans, as a temporary COVID-era tax credit is scheduled to expire at the end of 2025.
The legislation proposes to extend the Enhanced Premium Tax Credit for two years and introduce several reforms. These include setting an income cap at 700% of the Federal Poverty Level—equivalent to $109,000 for individuals and $225,000 for a family of four. For ACA marketplace users earning less than 150% of the Federal Poverty Level, there would be a minimum monthly premium of $5 or an option to pay $60 annually.
To address concerns about waste and fraud in the ACA marketplace, the bill introduces antifraud measures such as holding insurance brokers criminally accountable for providing false information and requiring regular audits. It also includes an opt-in Health Savings Account feature that directs half of the tax credit into these accounts and introduces reforms aimed at lowering drug prices by targeting pharmacy benefit managers.
In New York’s 11th district, which Malliotakis represents, nearly 80,000 people use ACA health plans. According to her office, allowing current tax credits to expire could result in some individuals facing a 95% increase in their plan premiums. The extension would allow more than 80% of households in the district to continue receiving premium assistance if they choose an ACA plan.
Malliotakis stated: “I join my colleagues to introduce the Bipartisan Health Insurance Affordability Act to protect nearly 80,000 individuals in my district who rely on Affordable Care Act plans from steep premium increases when the temporary premium tax credit subsidy expires at the end of this year. The Affordable Care Act signed into law by President Obama is simply not affordable as premiums have skyrocketed while insurance companies made record profits. Our bipartisan legislation is a balanced, centrist approach to protecting our constituents from steep premium hikes, making Health Savings Accounts more versatile, reducing ‘Obamacare’ fraud and cracking down on insurance companies, insurance brokers, and predatory ‘Middlemen’ Pharmacy Benefit Managers (PBMs).”
Nicole Malliotakis has represented New York’s 11th district in Congress since 2021 after previously serving in the New York State Assembly from 2011 through 2021. She was born in New York City in 1980 and currently lives in Staten Island.
