Congressman Tim Moore Votes to Pass the Lower Health Care Premiums for All Americans Act

WASHINGTON, D.C. -Today, Congressman Tim Moore voted to pass the Lower Health Care Premiums for All Americans Act(H.R. 6703), legislation with targeted reforms to lower premium costs for all Americans, expand access, and restore integrity to America's health care system.

"For years, Democrats have poured billions of taxpayer dollars into subsidies that pad the profits of big insurance companies while premiums skyrocket for working families," said Congressman Moore. "This legislation brings a much-needed set of reforms to lower premiums for all Americans at least 11%, expand affordable options for workers and small businesses, and tackle the hidden costs driving up prescription drug prices. I'm proud to vote for a bill that puts patients first and delivers real relief to families in Western North Carolina."

Specifically, the Lower Health Care Premiums for All Americans Act:

· Lowers premium costs through cost-sharing reduction payments-reducing premiums by at least 11%, stabilizing the individual market, and cutting out-of-pocket costs like deductibles and copays;

· Brings transparency and reduces hidden drug costs by requiring pharmacy benefit managers to report drug spending, rebates, and pricing-giving employers and employees visibility into the real drivers of premium increases;

· Expands Association Health Plans by restoring President Trump's executive order, which would enroll 3.7 million Americans and provide coverage to 400,000 previously uninsured individuals;

· Strengthens employer flexibility and coverage choices by allowing workers to use tax-free employer contributions to choose the health plan that works best for them;

· Protects small businesses by preserving their ability to offer affordable, customizable benefit plans that meet the needs of their employees.

Read the text of the bill HERE.

Key Background: The Unaffordable Care Act Marketplace: Rising Costs and Structural Failures

Premiums Have Risen Nearly Twice as Fast as Employer Coverage

• Premiums have increased at a rate more than three times higher than overall inflation as measured by the Consumer Price Index.

Surging Premiums Are Driving Higher Federal Subsidy Costs

• Federal ACA subsidy costs grew from $18 billion in 2014 to $92 billion in 2023.
• Costs are projected to reach $138 billion in 2025 - an 8x increase.

The Cost of Extending the COVID-Biden-Era Subsidy Boost is Substantial

• Making the expansion permanent would cost $335 billion over ten years.

Zero-Claim Enrollment Has Surged - While Insurers Collect Billions

• Zero-claim enrollment more than tripled, rising from 3-4 million in 2021 to nearly 12 million by 2024.
• In 2024, about 35% of marketplace enrollees had zero claims, up from under 20% before subsidy expansions.
• Insurers received tens of billions in taxpayer subsidies for enrollees who received no care including $21 billion in 2023 alone.