Protecting Health Care and Lowering Costs Act

[AI summary unavailable — showing source text] Protecting Health Care and Lowering Costs Act This bill makes permanent temporary provisions that generally expand eligibility for and increase the amount of the premium tax credit. This bill also repeals multiple Medicaid, Medicare, and health-related tax provisions enacted by the One Big Beautiful Bill Act (OBBBA). Currently, eligible taxpayers may claim the premium tax credit, which applies toward the cost of obtaining health insurance through health insurance exchanges. To qualify, a taxpayer’s household income must meet or exceed 100% of the federal poverty level (FPL) and, after 2025, may not exceed 400% of the FPL (maximum income limit). For 2021-2025, the maximum income limit is eliminated, which generally expands eligibility for the premium tax credit. Further, under current law, the amount of the premium tax credit is partially based on the taxpayer’s household income multiplied by the applicable percentage. The applicable percentage varies depending on which of six income ranges (adjusted for inflation after 2025) the taxpayer’s household income falls within. For 2021-2025, the applicable percentages are lowered and the adjustment of the applicable percentages for i…