Millions of Americans could face dramatically higher health insurance bills next year as enhanced Affordable Care Act (ACA) premium tax credits are set to run out.

Why It Matters

The enhanced subsidies, which lower monthly premiums for people across income levels, expire at the end of the year, raising the prospect of substantial increases for enrollees, unless Congress intervenes.

The ACA marketplace, established in 2010, offers health insurance to people who don’t qualify for Medicaid and aren’t covered through an employer. In 2020, Congress introduced the Enhanced Premium Tax Credit to help lower costs during the COVID-19 pandemic. The expanded subsidies significantly reduced monthly premiums—and for some low-income enrollees, brought them down to $0.

According to the Congressiona

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