Here’s a breakdown of how different states are addressing the loss of enhanced federal premium tax credits, based on the provided text:
States with New or Revised State-Specific Subsidies:
* Colorado: Offers up to $80/month per individual (+$29/family member) for those earning 100-400% FPL, covering about 40% of lost federal assistance.
* Washington: Revising its “Cascade Care Savings” program with fixed dollar maximums: $55/member/month for those with federal tax credits, adn $250/member/month for those without.
States with Existing, Self-reliant State subsidies (will remain regardless of federal action):
* New York
* Connecticut
* Vermont
* Massachusetts
* new Jersey
* Oregon: Also operates a “basic health plan” for low-income residents.
states with Limited Backfill:
* California: Receives $2 billion in enhanced credits, but state subsidies won’t fully replace them. Offers no assistance above 400% FPL.
* Maryland: Similar to California, no assistance for those above 400% FPL.
States Using Reinsurance Programs:
* Several states operate Section 1332 reinsurance programs. These don’t replace lost subsidies,but they help stabilize premiums for those paying the full cost (over 400% FPL).
Key Takeaway: Many states are attempting to mitigate the impact of lost federal subsidies,but the level of assistance varies substantially. Some states have robust, independent programs, while others offer limited backfill or rely on reinsurance to stabilize premiums. Individuals and families earning over 400% FPL are especially vulnerable, as they’ve lost all federal assistance and may not be covered by state programs.
