Two Senate Republican chairs are advancing an alternative healthcare proposal that would eliminate Affordable Care Act subsidies and instead channel government assistance directly to consumers through health savings accounts, Axios reported Monday.
The proposal from Senate Health Committee Chair Bill Cassidy, R-La., and Finance Chair Mike Crapo, R-Idaho, would allow current Obamacare subsidies to expire at year’s end and be replaced by “pre-funded, patient-driven accounts.”
Additionally, the chairs said their plan would lower insurance premiums by 11% by 2027 and beyond via “cost-sharing reduction payments.”
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