Section 1 Short title
This Act may be cited as the “Health Care Affordability Act of 2023”.
Health Care Affordability Act of 2023
A BILL
To amend the Internal Revenue Code of 1986 to improve affordability and reduce premium costs of health insurance for consumers.
Sec. 2 Improve affordability and reduce premium costs of health insurance for consumers
In general— Section 36B(b)(3)(A)(i) of the Internal Revenue Code of 1986 is amended to read as follows:
“(i) In general—Except as provided in clause (ii), the applicable percentage for any taxable year shall be the percentage such that the applicable percentage for any taxpayer whose household income is within an income tier specified in the following table shall increase, on a sliding scale in a linear manner, from the initial premium percentage to the final premium percentage specified in such table for such income tier:”
Conforming amendments—
Section 36B(c)(1)(A) of the Internal Revenue Code of 1986 is amended by striking “but does not exceed 400 percent”.
Section 36B(b)(3)(A) of such Code is amended by striking clause (iii).
Effective date— The amendments made by this section shall apply to taxable years beginning after December 31, 2022.