Trump administration starts sending $500 Obamacare refund checks — who stands…
The Trump administration began sending $500 refunds on Wednesday to more than 950,000 Obamacare enrollees, an administration official told CNBC.
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Recipients are largely those earning more than 400%
Recipients are largely those earning more than 400% of the federal poverty line, about $63,000 a year for an individual.
The refunds come just over a month before
The refunds come just over a month before the midterm elections, in which affordability has been a central theme, and after the expiration of enhanced premium subsidies that made health insurance cheaper for Affordable Care Act enrollees.
The Trump administration on Wednesday started sending $500
The Trump administration on Wednesday started sending $500 refunds to Obamacare enrollees whom the White House said were overcharged for healthcare by the Biden administration.
The Treasury Department is releasing these refund checks
The Treasury Department is releasing these refund checks to more than 950,000 Americans in 30 states, according to an administration official. Some families with more than one "affected person" will receive multiple $500 checks or direct deposits, the official said.
Recipients will also receive a letter dated Sept
Recipients will also receive a letter dated Sept. 30 from President Donald Trump, which is being mailed starting Thursday, the official said.
"For years, the Biden Administration overcharged you to
"For years, the Biden Administration overcharged you to fund the operation of HealthCare.gov," Trump writes in the letter, which CNBC viewed. The White House announced earlier this month that it would begin issuing refunds in October. Read more CNBC personal finance coverage
Trump's letter describes the move as a way
Trump's letter describes the move as a way to "restore Affordability, protect your hard-earned money, and lower the Cost of Healthcare." "You have paid into this flawed System, and now you are finally getting something back," Trump wrote.
The refunds come just over a month before
The refunds come just over a month before the midterm elections, in which Republicans are trailing Democrats in national and battleground polls.
Affordability has become a core theme of the
Affordability has become a core theme of the election cycle amid stubbornly high inflation and rising interest rates. The Iran war has raised gasoline and energy prices for households while surging yields for Treasury bonds have pushed up rates for consumers seeking mortgages and car loans.
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Trump administration starts sending $500 Obamacare refund checks — who stands to benefit
The Trump administration began sending $500 refunds on Wednesday to more than 950,000 Obamacare enrollees, an administration official told CNBC.
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Source: CNBC