Bipartisan Premium Tax Credit Extension Act

The Bipartisan Premium Tax Credit Extension Act would extend temporary provisions from the American Rescue Plan Act of 2021 and the Inflation Reduction Act of 2022 for one additional year through 2026. These provisions expanded access to premium tax credits, which help individuals and families afford health insurance purchased through health insurance exchanges.

Specifically, the bill would maintain three key changes: eliminating the income cap that currently limits eligibility to households earning no more than 400% of the federal poverty level, keeping the reduced percentages used to calculate how much individuals must contribute toward their premiums, and preventing those percentages from being adjusted upward for inflation. Without this extension, these provisions would expire after 2025, potentially making health insurance less affordable for many people.

The bill is currently in committee and has not yet been voted on by the full House. If enacted, it would provide continued financial assistance to eligible taxpayers seeking health coverage through the exchanges for one more year.