An ACA premium tax credit subsidy is supposed to hold what a consumer pays in cash for health coverage to a certain percentage of the consumer's "modified adjusted gross income," or MAGI. (Photo: Shutterstock)
President Joe Biden has proposed a budget for fiscal year 2022 that could make the current, temporary increase in health insurance premium tax credit subsidies permanent.
The proposal could also increase the amount of tax revenue flowing into the main Medicare trust fund, by applying the net investment income tax or the self-employment tax to more of high-income taxpayers' income, and by sending the revenue from the net investment income tax into the main Medicare trust fund.
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Allison Bell
Allison Bell, a senior reporter at ThinkAdvisor and BenefitsPRO, previously was an associate editor at National Underwriter Life & Health. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached through X at @Think_Allison.
