During the pandemic the U.S. government worked to make healthcare universally more affordable during a time of financial hardship for many. They created subsidies that extended the reach of Obamacare, allowing people with higher income to qualify. If the cost of health insurance for an individual was more than 8.5% of taxable income, they could qualify. The result of these subsidies was that millions of people had greater access to affordable healthcare.
Unfortunately, these subsidies are projected to end on December 31, 2022.
Should there be no government extension on this aid, the subsidies will end. This would cause the cost of healthcare to rise exponentially, particularly for those with higher income. Understanding the reality of this, you should have a plan.
Healthcare options for 2023
There are other plans besides Obamacare that are affordable. There are options available to you such as fixed indemnity and short-term medical which will not be affected by the loss of government subsidies. These plans are available year-round and could cost half of what Obamacare would, should the subsidies end.
Considering inflation, you should have health care coverage.
I’m Art Schlitten, and I’ll cover you in the rain.
You can reach me at 404-493-4017 or artmick1@gmail.com
