On April 5, 2022, President Joe Biden announced a new executive order on continuing to improve access to affordable, quality health coverage. The Order aims to build on the progress made by the Affordable Care Act and expand coverage to more people.
This is big news, and there’s a lot of information on what the Order means for consumers and the healthcare industry as a whole. We’ve gathered some of the most important points here so that you can understand what this means for you and your family.
Introduction to the New Executive Order
This Executive Order calls for the Department of Health and Human Services (HHS) to take several actions to make healthcare more affordable and to increase the number of people with health insurance. The Executive Order also calls on states to expand Medicaid coverage to more low-income Americans.
This Order will help to make healthcare more affordable by:
- Making it easier for people to enroll in health insurance through the Affordable Care Act (ACA) marketplace.
- Increasing the amount of financial assistance available to people who purchase health insurance through the ACA marketplace.
- Reducing the cost of prescription drugs.
- Creating a new federal program to lower premiums for people who purchase health insurance on their own.
- Making it easier for people to renew their health insurance coverage.
The Executive Order will also help to increase the number of people with health insurance by:
❖ Directing HHS to provide more information about the ACA and how to enroll in health insurance.
❖ Encouraging states to expand Medicaid coverage to more low-income Americans.
This is a positive step forward in making health care more affordable and accessible for all Americans.
What the New Executive Order Entails
The New Executive Order on Healthcare, instituted by President Joe Biden, is an attempt to build on the gains that have been made in terms of healthcare coverage for Americans.
The Order specifically calls for more collaboration between the government and private entities in order to provide more comprehensive coverage for citizens. Additionally, it looks to expand on the existing options for insurance, making it easier for people to find coverage that meets their needs.
The new Executive Order entails several things, including:
❖ Making it easier for people to enroll in health coverage through the Affordable Care Act
❖ Expanding access to tax credits that help make health insurance more affordable
❖ Making it easier for people to keep their health coverage if they move to a new state
❖ Improving access to quality, affordable health care for American Indians and Alaska Natives
❖ Requiring federal agencies to take actions to promote gender equity in health care
This is great news for those still uninsured or struggling to find affordable healthcare that meets their needs.
Who Will Be Impacted by the New Executive Order?
The new Order seeks to build on coverage gains made under the Affordable Care Act (ACA) and expand access to affordable healthcare for everyone.
This new executive Order will impact a number of different groups of people, including:
❖ People who are currently enrolled in health coverage through the Affordable Care Act
❖ Folks who are eligible for health coverage through the Affordable Care Act but have not yet enrolled
❖ Individuals who are eligible for tax credits that help make health insurance more affordable
❖ Persons who move to a new state and need to maintain their health coverage
❖ American Indians and Alaska Natives who need to improve their access to quality, affordable health care
When Will, the Order, Take Effect?
The new Executive Order will take effect on April 5, 2022. This date was chosen deliberately, as it will be the seventh anniversary of the Affordable Care Act being signed into law. President Biden intends for this Order to build on the coverage gains made under the ACA and help more Americans access quality, affordable health care.
How Will This New Executive Order Help Americans?
The new Executive Order focuses on expanding healthcare access and coverage for all Americans. Specifically, the Order aims to increase affordability and choice of coverage, as well as improve healthcare quality and lower costs.
Some ways it will do this include streamlining the application process for Medicaid and increasing funding for programs that assist lower-income Americans. The Executive Order also tackles the issue of prescription drug costs, which have been steadily increasing in recent years.
By working to increase competition and transparency in the pharmaceutical market, the Order seeks to reduce the cost of drugs for consumers. Overall, the Executive Order is a major step forward in ensuring all Americans have access to quality healthcare.
This new Executive Order is a step in the right direction that will help build on the gains made under the Affordable Care Act. It will help to make healthcare more affordable and accessible for all Americans, and it is important that we support this effort.
If you’re looking for affordable, quality health coverage, we can help. Healthcare Solutions Team is a wholly-owned subsidiary of the National General Insurance Group and Allstate Insurance Company, so you can be sure you’re getting quality service.