Health CarePolicy

GOP Tax Plan = Premium Hikes for Seniors

By Nov 29, 2017 No Comments

Under the latest Republican tax bill, older Americans are facing heightened threats to their health care. While the wealthy and corporations get tax breaks, our seniors are footing the bill with premium increases and less coverage.

The GOP tax plan specifically eliminates a medical expense tax deduction, which would raise health care costs for families. This provision allows Americans to deduct qualified high medical costs, particularly helpful to middle-class seniors and parents of children with disabilities.

AARP Executive Vice President Nancy LeaMond explained that “eliminating the medical expense deduction amounts to a health tax on millions of Americans with high medical costs – especially middle-income seniors.” The worst part? This deduction is critical for more than 9 million people.

Older Americans would particularly be impacted by the GOP tax plan, facing premium increases of up to $1,500:

  • Premiums for 50-year-olds could increase by an average $890 (rising to $9,780 a year)
  • Premiums for 55-year-olds could increase by an average $1,110 (rising to $12,200 a year)
  • Premiums for 60-year-olds could increase by an average $1,350 (rising to $14,860 a year)
  • Premiums for 64-year-olds could increase by an average $1,490 (rising to $16,420 a year)

The uninsured rate for seniors fell 6% over the past 3 years. But now, the GOP tax bill puts this improvement at risk by raising premiums for older adults and cutting coverage for 13 million Americans.

Call your Senators and tell them not to harm our seniors and VOTE NO on the sneaky health care repeal: 202-838-5566, or use our easy click-to-call tool below.