As Credits Are Set to Expire, Poll Shows Most ACA Exchange Participants Can't Afford Even Modest Increases in Health Costs

"A new survey of Americans currently enrolled in the Affordable Care Act (ACA) marketplace finds that most would not be able to afford even modest increases in costs. The poll comes as tax credits intended to help some on the program afford their health expenses are just weeks away from expiring. According to KFF, which administered the poll, if no action is taken to remedy the situation, premium payments will increase, on average, by 114 percent for 22 million Americans currently receiving those tax credits. Collectively, those individuals and families will likely see costs increase by $23 billion over the next year alone."

"The poll asked respondents, composed solely of people currently on the ACA marketplace, whether they could afford price increases to their health care spending. Nearly 6 in 10 (58 percent) said that they wouldn't be able to afford even a $300 annual increase to their health care costs. Another 20 percent said they couldn't afford an increase of $1,000 annually, with another 9 percent stating that an increase of $2,000 would be too much for them."

"Respondents were also asked what options they might take if their premiums double as a result of the credits expiring. Fifty-two percent said they would consider simply going without health insurance altogether, with 25 percent of respondents saying it was "very likely" and 27 percent saying it was "somewhat likely.""

Senate Democrats will force a vote next week on whether to extend tax credits for people on the Affordable Care Act (ACA) marketplace. A KFF poll of current marketplace enrollees finds most could not afford modest cost increases if the credits expire. Premiums for 22 million people receiving those credits would increase, on average, by 114 percent, raising collective costs by an estimated $23 billion next year. Nearly 58 percent said a $300 annual increase would be unaffordable; additional respondents reported $1,000 or $2,000 increases would be too much. Over half said doubling premiums could lead them to consider going without insurance.

Read at Truthout