President Biden has a number of proposed changes he’d like to see happen under his administration that covers taxes, the strengthening of our education, childcare, and the healthcare systems we currently have in place. No stranger to the Affordable Care Act, President Biden has plans to strengthen the Obamacare coverage and create a public option to healthcare to citizens. These expansions of coverage would not be cheap, sitting at an estimated $750 billion over the next decade.
Expanding Healthcare Access
The steps proposed to expand healthcare to Americans is vast and includes lowering prices of healthcare and prescriptions to help Americans afford coverage, as well as expanding the age limitations for Medicare to increase the number of individuals eligible to receive coverage. By lowering the eligibility age of Medicare to 60, this would allow approximately 20 million more Americans to receive coverage, if they elect to enroll. This change would also inhibit employers from dropping employees who are newly eligible to enroll in Medicare.
Another notable proposed adjustment includes lowering and capping the amount of income Americans spend on health coverage so that is it more affordable for all citizens to receive coverage. President Biden seeks to create a public option to get healthcare to increase the number of Americans covered.
Don’t wait, Stay Up to Date
Although there are many changes outlined in President Biden’s American Families Plan, many suspect the plan will take many revisions and many months before being passed and ultimately implemented. However, these changes can affect and help millions of Americans and it’s important to stay up to date on the latest released information to best prepare for what is to come and what impacts you may face.