The Biden administration is unlawfully trying to expand Obamacare.
The IRS proposal is unlawful, but the administration will do it anyway, as it did with vaccine mandates.
Here’s the background: The Obamacare statute created premium subsidies for people who buy insurance through exchanges. Congress restricted those subsidies to people with low and moderate incomes who had no other source of health insurance.
In addition to Medicare and Medicaid recipients, 155 million Americans with job-based coverage are prohibited from claiming the credits.
The law carved out one exception: If a company plan requires a full-time employee to contribute more than 9.5% of household income for “self-only coverage,” then the worker and his or her family members are eligible for premium subsidies.
The IRS regulations, on the books since 2013, faithfully implement the law, basing eligibility for tax credits on the affordability of employer-sponsored self-only coverage.
The Biden administration is now proposing to rewrite those regulations.