Health insurance premiums for many middle-class Americans are set to significantly increase next year as expanded subsidies under the Affordable Care Act expire. Premium costs could rise by an average of 75%, adding financial pressure on households and potentially leading some to drop their insurance coverage. The enhanced subsidies had reduced net premium costs by 44%, allowing millions to access more affordable coverage. According to experts, these subsidies were crucial for those earning too much for Medicaid but still struggling financially, indicating a looming crisis in health care affordability.
Without the enhanced Affordable Care Act subsidies, premiums for middle-class Americans are projected to rise by 75%, potentially costing an additional $1,000 or more annually.
The enhanced ACA subsidies reduced net premium costs by 44% in 2024; 93% of market enrollees received premium tax credits.
Miranda Yaver emphasizes that enhanced subsidies were a "game changer" for Americans earning too much for Medicaid yet struggling financially.
The expiration of the Biden-era policy which expanded ACA subsidies could push many Americans to opt out of health coverage due to increased costs.
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