Health Care Costs Will Skyrocket for Millions if Congress Fails to Extend ACA Enhanced Premium Tax Credits

If Congress doesn’t take action soon, health care costs will skyrocket for many of the four million Texans who use HealthCare.gov insurance plans.

Back in July, Congress passed their controversial mega-budget bill with historic health care cuts. One of many big concerns about that new law is what Congress left out of it.

Here’s the situation: Over the last few years, millions of Texans and other Americans have been able to sign up for health insurance on HealthCare.gov with a major discount on the monthly premiums they pay thanks to the increased financial assistance that Congress passed in 2021 and renewed in 2022. Nearly four million Texans are now enrolled in these health plans, compared to just 1.3 million in 2021! The extra financial assistance fueling that increase in health coverage — known as “enhanced premium tax credits” — will disappear at the end of 2025 if Congress lets them expire, although the original subsidies that have been in place since the beginning of the Affordable Care Act will remain.

If Congress fails to renew the extra financial assistance, millions of Texans will see their health insurance costs rise by hundreds or even thousands of dollars per year — forcing many Texans to drop their health coverage and miss out on vital medical care.

For example, monthly insurance payments for a 60-year-old couple in Texas who earn $82,000/year would increase by $18,000 a year if Congress drops the ball! Here are some of the other estimates from the Center for Budget and Policy Priorities:

Please join us in urging Congress to extend the financial assistance so Texans can keep their health coverage!

Thank you for fighting for our health care!