Article Summary –
More than 20 million Americans, including nearly 500,000 Michiganders, are facing increased health insurance costs as the Affordable Care Act tax credits expired on New Year’s Eve, leading to potential doubling or tripling of premiums for some. Health care advocates emphasize that these tax credits were crucial in providing access to affordable health coverage, which in turn protected financial security and promoted regular access to care, contributing to healthier communities. Despite concerns over federal costs and market distortion, there is hope that lawmakers may revisit the issue, with a potential vote anticipated in mid- to late January, while insurance navigators are advising residents to review their coverage during the open enrollment period ending January 15.
By Chrystal Blair
As the new year starts, over 20 million Americans face soaring health insurance costs, impacting nearly 500,000 Michiganders on Affordable Care Act marketplace plans.
Health care advocates predict insurance premiums could double or triple for some as enhanced Affordable Care Act tax credits expired on New Year’s Eve.
Amber Bellazaire, a senior policy analyst at the Michigan League for Public Policy, highlighted the role these tax credits played in supporting Michigan families.
“In increasing access to affordable health coverage, the credits protect families’ financial security and promote regular care access,” Bellazaire noted. “This ultimately fosters healthier communities.”
Congress members opposing the credits argue that extending them would increase federal costs and distort the insurance market, suggesting long-term solutions should focus on cost controls and market-based reforms.
Advocates warn the tax credit loss could impact care access and household budgets beyond the new year. Bellazaire remains hopeful lawmakers might revisit the issue post-expiration.
“A discharge petition in the U.S. House has reached 218 votes,” Bellazaire stated. “A vote might occur mid- to late January.”
Insurance navigators in Michigan urge residents to reassess their coverage now that the credits are gone, reminding that open enrollment for individual plans ends Jan. 15.
This story was initially published by Public News Service.
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