Biden To Propose Change To Obamacare To Extend Subsidies For Families: WSJ - Cigna Group (NYSE:CI)

The Biden administration is expected to propose a change in Affordable Care Act (ACA) subsidies to allow some people to afford health insurance for their families, writes Wall Street Journal.
The proposed change, expected to be announced Tuesday, would recalculate what is considered affordable for a family with employer-based health insurance.
Currently, workers can’t get ACA subsidies to lower their premiums if they get affordable health insurance coverage from an employer.
But the definition of affordable is determined by the cost of the coverage for the employee and not for the employee’s spouse or children.
According to the Kaiser Family Foundation, about five million people are affected by the so-called family glitch. Under the proposed change, they will have more options for insurance coverage.
Additionally, an estimated 200,000 uninsured people are expected to gain coverage under the proposed change by the Treasury Department, federal officials said.
The proposed rule would go into effect on January 1, 2023, and would change the calculation. Suppose coverage for the family costs more than about 10% of household income. In that case, federal officials said that the nonemployee family members would be eligible for financial assistance in the marketplace.