Why Health Insurance is More Affordable for Families on the ACA

Why Health Insurance is More Affordable for Families on the ACA

The Biden Administration and Congress have made health insurance more affordable for millions of families by one specific and necessary shift: eliminating the so-called family glitch, which prohibited family members from enrolling in marketplace plans with lower premiums and cost sharing because one member of the family has an offer of “affordable” employer coverage. The “family glitch” has deprived millions from access to affordable coverage.

Because of the family glitch, millions of low and middle-income families face unnecessarily high insurance costs, and are more likely to be affected because costs as a share of income are significantly greater than for high income families. The glitch likely has an even bigger impact in states with lower median incomes. Workers in these states often pay a higher percentage of wages for combined premium and deductible.

The new administration appears committed to expanding health coverage by strengthening the ACA. Eliminating the family glitch is definitely one way to do this. Family once caught in the glitch could pay 25% or more of their income on premiums, as opposed to the 8.6% maximum retired by the American Rescue Plan.

Protecting your family’s health is priority, but also important is your wallet! It’s important to protect your wallet from unexpected healthcare costs. Thankfully, we can help you select a family health insurance plan that keeps both your family and finances healthy. Interested in purchasing family health insurance or simply would like to learn more? Give us a call — we’re proud to be the top health insurance agency in Coral Springs and Parkland!

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