|Colorado delegation should support Cotton’s health care bill to help Americans hit with pricey health care under Obamacare
DENVER—Sen. Tom Cotton, R-Ark., is spearheading another battle between congressional Republicans and the Obama administration on Obamacare. Cotton has authored the “Obamacare Tax Relief and Consumer Choice Act,” which would allow families to escape the $695 federal penalty levied on adults who cannot afford insurance coverage. Under the bill, the penalty exemption would apply to Americans who live in states where health insurance premiums have increased by 10 percent or more on average, or who cannot afford the deductible in available plans.
Co-sponsors of the bill include Sens. Kelly Ayotte, R-N.H., John McCain, R-Ariz., James Lankford, R- Okla., Ron Johnson, R- Wis., and Richard Burr, R- N.C.
Advancing Colorado Executive Director Jonathan Lockwood released the following statement:
“Coloradans want to see our congressional delegation support bills that can gain broad support to address the visible, negative implications of Obamacare. Americans across the country are being restricted from an open and accessible health care market because of Obamacare and this will help alleviate some of the pain caused by the president’s health care law. Sens. Michael Bennet and Cory Gardner would be wise to support this compassionate and common-sense approach to help Americans in need.”
The bill addresses spiraling healthcare costs which caused the Obamacare mandate tax to hit the most vulnerable Americans. This bill provides targeted relief from some of Obamacare’s most costly provisions by:
- Provides mandate relief
- New exemption if state average premium increase is greater than 10 percent
- Expand affordability exemption to account for the cost of deductibles.
- Provide tax-favorable alternative to Obamacare
- Removes ObamaCare’s 20 percent tax on Health Savings Accounts.
- Allows Health Savings Accounts to be used for over-the-counter drugs and medical costs, such as Claritin or Zantac
“Obamacare has failed. Premiums are skyrocketing by more than 50 percent in some states, deductibles average more than $5,000 for the cheapest plans, and networks are shrinking Even worse, many of those same families will face a massive tax penalty because they can’t afford care,” said Cotton. “I am committed to fully repealing Obamacare. In the meantime, this bill will protect hard-working Arkansans and all Americans from the premium hikes, the mandate, and will provide alternatives through expanded access to Health Savings Accounts.”
“I’m proud to help introduce this bill that seeks to provide financial relief from Obamacare, and help New Hampshire families plan and save for health care costs. Across the Granite State, families have told me Obamacare horror stories about higher premiums and deductibles. To address this burden, our bill would exempt people from the law’s individual mandate to purchase health insurance if their plan’s premiums increase by 10 percent or the average of their home state’s premiums increase by more than 10 percent. It would also give families more options, including by removing restrictions on health savings accounts,” said Ayotte.