Since the U.S. Supreme Court ruled in favor of the Affordable Care Act, millions of Americans will now be able to keep their healthcare coverage and the Kaiser Health Tracking Poll announced today that about 6 in 10 say they approve the decision.
The Court’s ruling means that low- and moderate-income people across the nation, regardless of whether their state-run government exchange (or Marketplace), will be able to still receive tax credits and other government subsidies. Therefore, a wide array of individuals and families can continue to pay their premiums. And all beneficiaries – subsidized or not – won’t have to deal with skyrocketing healthcare costs. Specifically, these types of health insurance subsidies offered by the Marketplace fall into two categories:
- The premium tax credit helps lower monthly expenses. It’s provided to individuals and families with incomes between 100 and 400 percent of the poverty level purchasing coverage through the Marketplace. Beneficiaries don’t pay more than 2.01 – 9.56 percent of their incomes for “silver” plan premiums; the government pays the rest. Silver plans, the most popular option, pay 70 percent of covered medical benefits. This credit can be used for any Marketplace plan level (bronze, silver, gold or platinum); it’s distributed monthly or as a lump sum.
- Cost-sharing subsidies(or reductions) help with healthcare costs. They’re only available to people purchasing their own insurance and making between 100 and 250 percent of the poverty level. These subsidies can only be used with silver plans. Beneficiaries pay the same low monthly premiums, but they’ll also pay less for doctor’s visits or hospital stays.
How the Court’s decision benefits enrollees
The Court’s decision to maintain the current healthcare law as it is means that beneficiaries in all 50 states who are dependent on federal subsidies will be able to pay their ongoing policy premiums. To illustrate the country’s growing support of the ACA, this ruling’s 62% approval is higher than that of the 2012 Supreme Court decision to uphold the majority of the law’s major provisions. A Kaiser poll taken at the time found that only 47 percent of the American public approved of that decision.