Right now, Bob McMichael and his wife only pay $50 a month for their health insurance premium.
That’s deeply subsidized by tax credits Congress created in 2021.
But a couple of weeks ago, they got a letter from their health insurance company that said their premiums would be hiking. It would be $400 a month with the same enhanced tax credit, or more than $2,200 without.
The full price is almost how much the retired school teacher, who lives in Council, Idaho, and his wife earn each month.
“If we spent that much on health care—which we won’t be able to do—we wouldn’t be able to buy groceries, or gas, or pay our utility bills, or anything else,” McMichael told the Idaho Capital Sun in an interview.
Unless Congress extends them, the enhanced premium tax credits that let people buy cheape