The American Rescue Plan recently passed into law may provide several benefits to working families to ensure their health is fully taken care of regardless of their ability to pay. According to an article on Healthline by Shawn Radcliffe discussing the legislation in detail, “For now, these provisions are temporary, but they include an expansion of Affordable Care Act (ACA) subsidies, new COBRA subsidies, relief from the premium tax credit clawback, and additional Medicaid coverage.” Considering this is in addition to additional stimulus packages created in the past year, there may be a significant reason to believe that these policies may ultimately save the lives of millions of people. However, they do not come without a cost.
The Federal Reserve printing a tremendous amount of money last year raises concerns about inflation and the cost of necessary goods and services down the line when the global pandemic comes to an end. The insurance industry might be hit the hardest due to the simultaneously rising costs of new breakthroughs such as telehealth and telemedicine. While it is generally accepted that the steps taken in the US to ensure families get help are absolutely necessary, it is worth exploring solutions now to promote a stable nationwide economy down the line. At Engagent Health, nothing is more important to us than making sure the average consumer is not harmed in the short or long run. We will do constant research on the changing trends and use our platform to help in any way possible.
We are in this together.