BOSTON — Gov. Maura Healey is rolling out what her office calls “nation-leading action” in hopes of shielding some residents from rising healthcare costs.
The move comes after the federal government declined to extend enhanced tax credits under the Affordable Care Act.
More than 22 million Americans rely on those tax credits to help pay for health insurance. In Massachusetts, hundreds of thousands soon could’ve felt that impact as those credits expired, but on Thursday, the governor announced a new multi-million dollar investment that she says will reduce the cost of the increased premiums.
Gov. Healey explained that this $250M investment into the ConnectorCare program, for a total of $600M, will help offset some of the added costs for some individuals on the insurance plan.
It doesn’t cover everybody, but it does cover individuals who make less than $62,600 a year and families with incomes less than $128,600 a year.
Governor Healey explained that she did not make this announcement sooner because she was holding out hope that the federal government would step in.
“But in the face of continued inaction by Congress and detrimental action by the president of the United States, Massachusetts is doing what we need to do,” Gov. Healey explained.
The governor believes this investment means 270,000 residents, with coverage through the Massachusetts Health Connector, will see little to no premium increase.
Experts like MIT Economics Professor Jonathan Gruber believe that without this intervention, many more families would’ve been faced with difficult choices.
“It’s an enormous emotional toll,” Gruber explained. “It’s just not a stress we should put on people in a nation as wealthy as America.”
While it is welcome news for many, for those who don’t qualify, it’s a letdown.
“I was honestly up nights just thinking about what this is going to lead to? Where is my path going to lead to at this point?” one resident questioned.
One Massachusetts resident told Boston25, he doesn’t meet the income requirements so this leaves him in a difficult position.
“Why? Why not us? We still have bills to pay,” the resident said. “I feel like the middle-class American is being eliminated and it is gut-wrenching. You try to figure out how to make ends-meet everyday and how much harder, as Americans, do we need to work?”
The funding for this initiative is coming out of the Commonwealth Care Trust Fund.
This is a developing story. Check back for updates as more information becomes available.
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