Benchmarks
Nifty23,477.8046.3

FEATURED FUNDS★★★★★

Motilal Oswal Midcap Fund Direct-Growth

5Y Return
21.98 %

Invest Now

Enter search text:

Business News›News›International›World News›US to issue $500 Obamacare refunds to nearly a million Americans

Read Today's Paper

US to issue $500 Obamacare refunds to nearly a million Americans
Synopsis

Nearly one million Americans will receive $500 refunds from the Trump administration. These payments address overcharges on federal Obamacare marketplace user fees. Eligible recipients are those without subsidies in thirty specific states. Checks for these refunds are scheduled to begin distribution in October. This initiative aims to return funds perceived as wrongly collected from consumers.

AP

Nearly one million Americans enrolled in Obamacare plans will receive $500 in payments as the Trump administration moves to refund those who were overcharged through the federal marketplace.



The White House said on Thursday the Biden Administration overcharged Americans through Obamacare plan exchange "user fees" that were passed on to consumers in the form of higher premiums, creating a surplus that the administration said was not needed to operate the marketplace.



Obamacare plans, created by former President Barack Obama's signature Affordable Care Act, ‌are subsidized based ⁠on income.

The ⁠refunds would go to consumers in 30 states who do not receive premium subsidies and purchased coverage through the federal marketplace, called ​Healthcare.gov, where people sign up for the plans.



The White House said checks to eligible Americans will begin going out in ​October.




According to a White House official, the $500 refund will primarily go to people earning more than 400% of the federal poverty level who do not qualify for subsidies, as well as those earning between 100% and 400% ​who did not receive subsidies. The administration has already identified eligible ⁠recipients.

The official confirmed ‌that these payments are separate from the $5,000 payment President Donald Trump announced on ​Wednesday night.

The states, many ​of which are Republican-led, are Alabama, Alaska, Arizona, Arkansas, Delaware, Florida, Hawaii, Indiana, ⁠Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Montana, Nebraska, New Hampshire, North Carolina, ​North Dakota, Ohio, Oklahoma, Oregon, South Carolina, South Dakota, Tennessee, Texas, Utah, West ​Virginia, Wisconsin and Wyoming.



"In many cases, these refunds will cover the entire spike in your insurance caused by Democrats, who solely work to protect big insurance companies," Trump said in a video posted by the White House on social media platform X.



"Our administration is doing the right thing and giving the money back to the people who were wrongly ripped off."



The U.S. Department of Health and Human Services and the White House ‌did not immediately respond to Reuters requests for details on the eligibility criteria, the period during which the user fees were charged or how the $500 refund amount was calculated.



Healthcare costs ​have increased for ​the subsidized plans after Congress ⁠allowed COVID-19-era tax credits to expire, increasing premiums for many consumers.



Trump has repeatedly criticized the Affordable Care Act.



The administration has previously proposed new Obamacare rules for 2027, allowing insurers to offer new kinds of long-term catastrophic ​policies, plans with low premiums but significantly higher out-of-pocket costs that would be used to cover major medical expenses.



The announcement comes a day after Trump proposed to pay every U.S. adult a $5,000 "Trump dividend" if his party wins the November congressional elections, at a time when opinion polls show his popularity at an all-time low with broad majorities dissatisfied with the Iran war and the U.S. economy.

Add as a Reliable and Trusted News Source
Add Now!

(You can now subscribe to our WhatsApp channel)

(You can now subscribe to our WhatsApp channel)


Read More News on
Obamacare refundsBiden administrationHealthcare.govAffordable Care ActTrump administrationuser feeshealth insurance premiumsHealth and Human ServicesTrump dividend

Enter search text:

Continue reading with one of these options:
Limited Access
Free
Login to get access to some exclusive stories

& personalised newsletters
Login Now

Unlimited Access
Starting @ Rs120/month
Get access to exclusive stories, expert opinions &

in-depth stock reports
Subscribe Now

ET

Unlock Access to All Exclusives with ETPrime FREE TRIAL

15 Days Free: Unlock All ETPrime Exclusives, Market Tools & ePapers

Trial offer expiring in00 : 05 : 00

I'd rather pay ₹2599 now

Uh-oh! This is an exclusive story available for selected readers only.

Worry not. You’re just a step away.

Prime Account Detected!

It seems like you're already an ETPrime member with

Login using your ET Prime credentials to enjoy all member benefits

Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.

Unlock ETPrime's Exclusive Stories Today!

Subscribe to gain powerful insights on business, stock market and industry trends.

Big Price Drop! Flat 40% Off

Student Only Offer

Already a Member? Sign In now

Already a Member? Sign In now
Already a Member? Sign In now

Offer Exclusively For You

Save up to Rs. 700/-

ON ET PRIME MEMBERSHIP

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get Flat 40% Off

Then ₹ 1749 for 1 year

Avail Offer

Offer Exclusively For You

ET Prime at ₹ 49 for 1 month

Then ₹ 1749 for 1 year

Avail Offer

Special Offer

Get flat 40% off on ETPrime

Avail Offer
Avail Offer

Claim NowAlready a Member? Sign In now

Need Assistance?

Connect with an ETPrime expert for personalized support and guidance

+91 9484700004

' + h3 + '

' + h4 + '

' + listing + '

What’s Included with

ETPrime Membership

Stories you might be interested in