The number of Americans with health insurance continues to rise, while the number without health insurance coverage is at an all-time high.
The US Department of Health and Human Services announced on Tuesday that the number of uninsured Americans has reached 8% this year.
The decline in the number of uninsured Americans began last year, when Congress and President Biden signed a $1.9 trillion coronavirus relief bill that cut premiums and out-of-pocket expenses. for new or repeat customers who purchase plans through the Affordable Care Act Private Health Insurance Marketplaces.
The uninsured rate fell to just under nine percent last year with improved subsidies.
BEST AND WORST STATES FOR HEALTHCARE IN 2022: REPORT
The improvement was helped by increased advertising and more advisors helping enroll people into plans during the open enrollment season last year.
“Every American deserves the peace of mind that comes with access to quality, affordable health care,” President Biden said in a statement Tuesday about the record rate of uninsured Americans.
Prior to last year, the uninsured rate had been consistently in the double digits for decades.
The number of uninsured Americans began to decline after the 2010 enactment of the ACA, which expanded Medicaid and provides health insurance to people who lack employment-based coverage through a mix of plans subsidized private.
MANCHIN-SCHUMER SPENDING ACT TARGETS INVESTOR-FOSTERED TAX ESCAPE
Democrats recently reached a 725-page deal on climate, health care and taxation that would extend federal subsidies to people who buy private health insurance credited with lowering uninsured rates.
Democrats have proposed spending $64 billion to extend those price cuts for three years.
“We know that access to affordable, quality health care is the key to healthier lives, economic security, and peace of mind,” HHS Secretary Xavier Becerra said Tuesday. in a press release.
CLICK HERE TO LEARN MORE ABOUT FOX BUSINESS
About 26 million people still lack health insurance in the United States. Just under 2% of children are no longer insured.
The Associated Press contributed to this report.