SIOUX FALLS, S.D. (Dakota News Now) - Roughly 11,000 South Dakotans could lose their insurance by year’s end if Congress cannot come to an agreement to extend certain tax credits under the Affordable Care Act.
The tax credits may expire at the end of the year, but open enrollment for health insurance starts at the beginning of November and ends January 15.
Healthcare experts are hoping Congress can find a solution before enrollment begins.
The Enhanced Premium Tax Credit that Joe Biden set in place back in 2021 allowed people above 400% of the Federal Poverty to take advantage of the credit by ensuring that their insurance premiums would not be above 8.5% of their income.
Anyone of lower income received even more generous subsidies depending on age and family size.
This credit has b