Searching for smart, safe news you can TRUST?

Support safe, smart, REAL journalism. Sign up for our Axios AM & PM newsletters and get smarter, faster.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Searching for smart, safe news you can TRUST?

Support safe, smart, REAL journalism. Sign up for our Axios AM & PM newsletters and get smarter, faster.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

The Senate health care bill would raise premiums for older and lower-income Americans on exchanges compared to current law, much like the House bill, according to an analysis by the Kaiser Family Foundation. Some younger people would pay less in premiums, but deductibles would likely rise across the board.

Expand chart
Data: Kaiser Family Foundation; Chart: Chris Canipe and Lazaro Gamio / Axios

What the Senate bill does:

  • Changes the benchmark plan — the one that's linked to the subsidies. Under the Affordable Care Act, subsidies are tied to "silver" plans that cover 70 percent of an enrollee's health care costs. Under the Senate bill, they're tied to plans that only cover 58 percent of the costs. This means subsidies will be smaller.
  • Changes the required income percentages enrollees must pay towards their premiums. Younger people would generally have to pay less of their income, but older people would have to pay more.
  • Allows older people to be charged premiums five times higher than younger people, compared to three times higher under current law.
  • Rewrites the eligibility rules. People would be eligible for subsidies if their incomes are below 350 percent of the federal poverty line, rather than between 100 and 400 percent of the federal poverty line under the ACA.

Why this matters: Premiums for silver plans would at worst become unaffordable for some people, while others would see their costs go up. This may make some people switch into bronze plans, but these plans have substantially higher deductibles. The bottom line is most Americans will pay more out of pocket for their health care on the individual market, and that's not politically popular.

Go deeper

Biden to nominate Janet Yellen as Treasury secretary

Photo: Photo by Alex Wong/Getty Images

President-elect Joe Biden is preparing to nominate former Fed Chair Janet Yellen as his Treasury Secretary, four people familiar with the matter tell Axios.

Why it matters: Yellen, 74, will bring instant economic celebrity to Biden’s team and, if confirmed, she will not only be the first female Treasury Secretary but also the first person to have the held all three economic power positions in the federal government: The chair of Council of Economic Advisers, the chair of Federal Reserve and the Treasury Secretary.

1 hour ago - Podcasts

Bob Nelsen on AstraZeneca and his plan to revolutionize biotech

AstraZeneca and the University of Oxford on Monday reported promising efficacy data for their COVID-19 vaccine, which has less stringent storage requirements than the Pfizer and Moderna vaccines and may be distributed earlier in developing countries.

Axios Re:Cap digs into the state of vaccine and therapeutics manufacturing with Bob Nelsen, a successful biotech investor who on Monday launched Resilience, a giant new pharma production platform that he believes will prepare America for its next major health challenges.

Ben Geman, author of Generate
Updated 2 hours ago - Energy & Environment

Unpacking Joe Biden's decision to tap John Kerry as his climate envoy

Photo: Pablo Blazquez Dominguez/Getty Images

President-elect Joe Biden is naming former Secretary of State John Kerry as a special presidential envoy for climate change.

Why it matters: The transition team's announcement sought to show that it will be an influential role, noting that Kerry — a former Massachusetts senator and the Democrats' 2004 presidential nominee — will be on the National Security Council.