Improving Health Insurance Affordability Act of 2023

This bill expands health insurance subsidies under the Affordable Care Act for people with household incomes up to 800% of the federal poverty line (up from 400%), directly affecting millions of middle-income Americans purchasing coverage through health insurance marketplaces. Key provisions adjust the sliding-scale subsidy system to lower premium percentages across income tiers - like reducing the maximum payment from 8.5% to 6% for incomes between 300%-400% of poverty - and increase cost-sharing reductions for lower-income enrollees. It also modifies eligibility thresholds, raising the income limit for the highest savings tier from 150% to 200% of poverty and increasing the percentage of out-of-pocket costs covered. These changes aim to make premiums and deductibles more affordable by expanding subsidy eligibility and refining how payments are calculated.