Increasing Access to Lower Premium Plans and Expanding Health Savings Accounts Act of 2018

This bill modifies the requirements for the premium assistance tax credit and allows all individuals to purchase catastrophic health plans in the individual market.

(Under current law, the premium assistance tax credit is provided to eligible individuals and families to subsidize the purchase of health insurance plans on an exchange established under the Patient Protection and Affordable Care Act.) The bill modifies the credit to:

• make the credit available for catastrophic qualified health plans and plans that are not offered through an exchange, but otherwise meet the requirements for qualified health plans;
• prohibit advance payments of the credit from being made for a health plan that is not enrolled in through an exchange; and
• prohibit the credit from being used for health plans that cover abortions (other than abortions necessary to save the life of the mother or abortions with respect to a pregnancy that is the result of an act of rape or incest).

The bill also modifies the requirements for minimum essential health benefits to allow all individuals purchasing health insurance in the individual market to purchase a lower premium catastrophic plan. (The plans are currently limited to individuals who are under 30 or qualify for a hardship or affordability exemption.)