"With two health care bills failing to advance in the Senate on Thursday, the ACA's enhanced premium tax credits - which 90% of enrollees in the government health program rely on to ease the cost of affording health insurance - are almost certain to expire on Dec. 31. That will leave Jump and the roughly 22 million other Americans who now qualify for the tax credits facing some tough financial decisions."
"Out-of-pocket premium costs will increase 114% on average for ACA participants who currently receive the subsidies, hiking their annual costs for medical insurance by $1,016, according to health policy group KFF. Some households could see even larger spikes. A family of four earning $75,000 per year is likely to see their insurance premiums rise by an additional $3,368 without the tax credits, the group estimated."
Tina Jump in Mahwah, New Jersey faces a premium increase from about $400 to more than $1,100 monthly starting in January. She earns about $72,000 annually and already pays roughly $415 a month for a diabetes prescription, creating significant budget pressure despite an employer offer to help. Enhanced ACA premium tax credits that currently lower costs are likely to expire on Dec. 31 after two Senate bills failed to advance. Approximately 22 million Americans rely on those credits. KFF estimates average out-of-pocket premiums would rise 114%, adding about $1,016 annually, with some households facing much larger spikes.
Read at Cbsnews
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