500 dollar checks to nearly a million americans Trump says were overcharged on Obamacare exchange fees by the Biden admin. They had the money for quite some time and were hoarding it we're giving it back.
What actually happened? The exchange has a standard 1.5% charge that goes for administering the exchange. Because they knew subsidies were expiring they increased the charge in 2024 to 2.5% so IF the subsidies were NOT extended, they would have enough money to pay for the exchange assuming enrollment would drop. Less people enrolled means they needed to charge an extra 1% to cover and they started it in 2024 so they would have enough to cover the costs in the future, if the subisidies had been extended, the 1% was going to be refunded.
So Trump took office and let the subsidies expire, but he then also cut the funding for administering the exchange. So he's refunding PART of the money Biden's admin put aside to pay for costs that he cut.
And blaming Biden for it