How the 1.9 Trillion Dollar Stimulus Package Might Help Healthcare

We’re in a pandemic. Taking care of your health, practicing social distancing, and making sure every member of your family is properly covered should be the most important things on your list right now. It’s a crazy time we’re living in, and oddly enough ensuring you have a proper health place set in place is more imperative than ever. But like anything, it costs money. 

Luckily, not only will finalizing the second stimulus package put money into your pockets, it might help with healthcare costs too. This new 1.9 trillion dollar Covid relief package will be the largest in history if approved, and it hopes to make healthcare more affordable for most households. 

Biden plans to do this by, one, lowering the income gap that determines eligibility, making health insurance more accessible to a wide array of people. He also aims to make coverage more affordable by lowering the tax credits owed, and reducing total coverage cost to a maximum of 8.5% of your income. He also wishes to increase spending for over 100,000 front-line workers, as they demand for more compensation towards their efforts. Nurses, paramedics, firefighters, police officers, and other healthcare workers should hopefully see more spending in their departments when the stimulus is active. We should also see the funds roll-over to unemployed workers who wish to keep their current plans as well. A law known as COBRA allows workers to keep their insurance plan for up to 18 months, but they typically pay the cost in its totality. Biden plans to subsidize 85% of this cost, encouraging workers who lost their jobs due to Covid, to keep their plans. 

Although the package could still be modified by the time it is released, this is what it hopes to cover so far. Check out the article below!  https://www.cnbc.com/2021/02/26/covid-relief-bill-would-make-health-insurance-more-affordable-for-millions.html