Senate Republican Bill Cassidy is making a bold move by courting Democrats to back his alternative plan to extend COVID-era healthcare subsidies, set to expire next month. As the chairman of the Senate Health, Education, Labor and Pensions Committee, Cassidy is pushing for an extension of the Enhanced Premium Tax Credits, but instead of giving it to insurance companies, he wants to send it directly to consumers through their healthcare savings accounts.
According to Cassidy, his proposal has "a lot of appeal" to both conservative and left-leaning Democrats. He's not willing to put a price tag on the plan yet, however, as he seeks assessments from the Congressional Budget Office, Treasury Department, and Department of Health and Human Services.
The main idea behind Cassidy's plan is to redirect the additional funding meant for insurance companies towards consumers. This would allow people to spend their money directly on healthcare services they choose, rather than having it go to insurance companies first. In essence, this means 100% of the funds would be allocated to healthcare spending, whereas currently only 80% goes towards actual care and the rest is spent on administrative costs.
Critics have raised concerns that similar proposals could lead to a "death spiral" – a vicious cycle where patients drop their insurance, leaving mostly sick individuals while premiums skyrocket. Cassidy acknowledges these worries but argues that his plan would target the incremental increase in subsidies rather than the baseline tax credits under Obamacare.
Interestingly, President Trump has publicly called for a similar system, stating that insurance companies are making a fortune from these subsidies and should be giving more back to patients. Senate Majority Leader John Thune promised Democrats a vote on their preferred legislation, which is expected to take place in December's second week.
While the details of Cassidy's plan are still being ironed out, his effort to bridge the gap between Republicans and Democrats could potentially lead to a bipartisan agreement on healthcare subsidies.
According to Cassidy, his proposal has "a lot of appeal" to both conservative and left-leaning Democrats. He's not willing to put a price tag on the plan yet, however, as he seeks assessments from the Congressional Budget Office, Treasury Department, and Department of Health and Human Services.
The main idea behind Cassidy's plan is to redirect the additional funding meant for insurance companies towards consumers. This would allow people to spend their money directly on healthcare services they choose, rather than having it go to insurance companies first. In essence, this means 100% of the funds would be allocated to healthcare spending, whereas currently only 80% goes towards actual care and the rest is spent on administrative costs.
Critics have raised concerns that similar proposals could lead to a "death spiral" – a vicious cycle where patients drop their insurance, leaving mostly sick individuals while premiums skyrocket. Cassidy acknowledges these worries but argues that his plan would target the incremental increase in subsidies rather than the baseline tax credits under Obamacare.
Interestingly, President Trump has publicly called for a similar system, stating that insurance companies are making a fortune from these subsidies and should be giving more back to patients. Senate Majority Leader John Thune promised Democrats a vote on their preferred legislation, which is expected to take place in December's second week.
While the details of Cassidy's plan are still being ironed out, his effort to bridge the gap between Republicans and Democrats could potentially lead to a bipartisan agreement on healthcare subsidies.
i mean who wouldn't want more money in their pocket to use towards healthcare? it makes so much sense that he wants to cut out all the middleman and let people just pay for what they need directly. and can you even imagine how much $$$ that could save on administrative costs? 
plus president trump has already said something similar about insurance companies making a fortune off these subsidies, so i think this plan is like super legit 
what if it could finally bring some unity to the healthcare debate? 
I'm curious about this new proposal from Sen. Cassidy... it makes sense that he'd want to send the extra funding directly to consumers instead of letting insurance companies profit from it 
. But, at the same time, I can see how critics are worried that this could lead to some major issues down the line 
... like, what if people start dropping their insurance plans and then expect the government to bail them out? 
It's always a balancing act when it comes to healthcare, but I think Sen. Cassidy is on the right track by trying to find common ground with Democrats 
.
. I mean, we've been seeing so much division lately, but here's someone actually willing to listen and compromise. The idea of sending the extra funding directly to consumers is a good one - it's like they're giving people a little more control over their own healthcare budget 
. Of course, there are concerns about a "death spiral", but I think Cassidy's plan addresses those worries by targeting the incremental increase in subsidies rather than the baseline tax credits 
.
. Stats say 80% of subs go towards admin costs & not actual care 
. Meanwhile, a study by the Kaiser Family Foundation found that Medicaid expansion has resulted in significant reductions in mortality rates for low-income adults 
. If Cassidy's plan passes, it could reduce the likelihood of a "death spiral" 
. Here are some key numbers:
i love how senator cassidy is trying to break the mold and make a change, not just sticking to what's expected of him. sending funds directly to consumers through their healthcare savings accounts? genius idea! 
i'm totally on board with this and hope it's a game-changer for the healthcare system. fingers crossed it all works out and we get some bipartisan love 
... I mean, who would've thought that in 25 years, we'd still be arguing about how to fund healthcare? It's crazy! Cassidy's plan sounds legit tho, redirecting the funds from insurance companies to consumers makes sense. But, at the same time, it's hard not to think about all the potential pitfalls... I mean, have you seen those TV shows where people just quit their insurance and leave everyone else to deal with the bills? 
Yeah, that's what critics are worried about - a "death spiral". Still, if anyone can make this work, it's Cassidy. And who knows, maybe we'll actually get some bipartisan love for once 
... but I'm not holding my breath 
he's actually trying to send those covid era subsidies directly to consumers through their health savings accounts?!?! can you even imagine how much money ppl would be saving on insurance premiums?!?! it's kinda genius, right? 
and the fact that he's working with dems to try and get some bipartisan action going is super refreshing 
. I think Cassidy is onto something here 
!
this is gonna be interesting! if insurance companies can just give back more money to consumers they probably won't need those extra funds right? and 100% of the funding going directly to healthcare services sounds like a win-win for patients