This week, the U.S. Senate plans to vote on the Better Care Reconciliation Act (BCRA), the latest legislative attempt to fix some of the problems with health care that drive up costs for both citizens and employers. The bill has implications for everyone, including real estate agents. Here's what you should know. Why would more people be uninsured under BCRA? One talking point that's come from the Congressional Budget Office (CBO) and Joint Center on Taxation (JCT) analysis of the bill has to do with the number of people projected to have insurance in 2026 under this legislation compared to the current projections of insured citizens. So if you've heard people say that 22 million Americans will be uninsured as a result of passing the BCRA, they are referring to the projection that this bill "would increase the number of people who are uninsured by 22 million in 2026 relative to the number under current law," which is 28 million. There are two essential reasons for this: ...
- If you buy your insurance on the state or federal exchanges or are covered by Medicaid, you might be losing a tax credit or Medicaid coverage under the BCRA.
- If you were enrolling in a health care plan only when you needed it, you'll have to start waiting six months before your coverage kicks in.
- States would be allowed to decide what "essential benefits" are; this could lead to more choices, but it could also mean that in states where certain benefits are considered "nonessential," patients who need those benefits would once again be subject to annual or lifetime limits.