Insurance premiums are increasing for people who buy homes or other fixed-rate coverage, and it appears that some of the new rules could affect you.
On Thursday, a House Committee voted to extend a provision of the Affordable Care Act that limits the deductibles on mortgage-backed securities to $1 million.
The vote comes after the House voted in March to repeal a key provision of President Trump’s healthcare law, which requires insurers to cover 100 percent of the cost of covered care, up to a limit of $500,000.
The amendment was sponsored by Representatives Joe Barton of Texas and David Brat of Virginia, and is expected to be approved.
It has not been proposed by Republicans in the Senate, who have a long history of voting to repeal parts of the ACA.
A similar provision, known as the “coverage gap” provision, would have required insurance companies to cover a percentage of the costs of covered services, including deductibles and copayments.
The provision was first proposed by Representative Joe Barton, a Republican from Texas, in March, and was introduced by Representative Ted Poe, a Democrat from Florida.
This week’s vote marks the second time the House has taken action to protect consumers from higher premiums.
The House voted to repeal the House Budget Committee’s (HBC) repeal of the individual mandate, which mandated that people purchase health insurance.
That repeal would have given people who had signed up for coverage under the ACA until 2022, and the tax penalty would have been eliminated, according to the Brookings Institution.
A House panel is expected in early January to begin working on a separate proposal that would require insurers to offer policies that cover at least 75 percent of health costs, or a minimum of 100 percent.
But it has not yet been submitted to the full House for approval, and Republicans are reportedly still debating how to pay for it.
On Wednesday, the House Ways and Means Committee voted in favor of a measure that would repeal the Obamacare “individual mandate.”
This repeal would not have changed how many Americans are required to purchase health coverage, but it would have extended the mandate until 2022.
In a statement on Wednesday, Representative Brad Sherman, a California Democrat, called the House’s vote a “step forward” and said, “We are now moving on to the next step: making sure that millions of Americans have access to affordable coverage.”
The Congressional Budget Office (CBO) estimates that repealing the individual mandates would save $732 billion over 10 years.
House Speaker Nancy Pelosi said on Wednesday that the measure will allow millions of families to buy policies that would cover the cost “of their own care, not the costs they pay on their health insurance.”