The Republicans recently voted to repeal the “Affordable Care Act.” They were all full of themselves, high fiving each other, slapping the backs of their compatriots. Meanwhile, down at the other end of Pennsylvania Avenue:
Kathleen Sebelius, the Secretary of Health and Human Services, released a new study showing how families and businesses will actually SAVE MONEY in 2014 on their health insurance premiums and out-of-pocket costs. For example, it looks like every year a low-income family of four could save up to $14,900 and businesses will benefit from the savings and tax credits in the new law.
The report finds that, compared to what they would have paid without the law:
Middle-class families purchasing private insurance in the new State-based Health Insurance Exchanges could save as much as $2,300 per year in 2014;
Tax credits provided by the Act will lead to even greater savings. For example, in 2014, a family of four with an income of $33,525 could save as much as $14,900 per year since they will also qualify for tax credits and reduced cost sharing;
In 2014, small businesses could save an average of up to $350 per family policy and many may be eligible for tax credits of up to 50 percent of their premiums;
The tax credits are already available to small businesses, and cover 35 percent of their premiums. For example, a firm with 10 workers who earn an average of $20,000 annually could currently receive credits of $35,000 annually. These tax credits could save small businesses $6 billion in 2010 and 2011.
And the Republicans want to reverse this? What am I missing here?