"Tens of millions of Americans are set to see their health insurance costs soar when subsidies under the Affordable Care Act expire at the end of this year. Health insurance premiums are expected to more than double or even triple for some 20 million people, pricing many out of healthcare coverage entirely. "We've done nothing as a country to control healthcare costs," says Elisabeth Benjamin, vice president of health initiatives at the Community Service Society of New York"
"On January 1st, tens of millions in the United States will see their health insurance costs soar, when subsidies under the Affordable Care Act expire. Health insurance premiums are expected to more than double or triple for some 20 million people, pricing many out of healthcare coverage entirely. The enhanced subsidies were first put in place during the pandemic. Congress is on recess until January 6th, with Republicans reportedly leaving early for a two-week holiday break without voting to extend the ACA."
Enhanced Affordable Care Act premium tax credits expire January 1, removing pandemic-era subsidies that capped premiums. Health insurance premiums are expected to more than double or triple for roughly 20 million people, pricing many out of coverage. Congress recessed without voting to extend the subsidies, leaving consumers facing abrupt cost increases and uncertainty. The absence of national measures to control healthcare costs exacerbates the financial impact. Individuals facing increases should review plan options, seek enrollment assistance, evaluate networks and out-of-pocket costs, and pursue state or local resources and advocacy to avoid coverage loss.
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