From $479 to $2,800 a month for ACA health insurance next year
2 days ago
- #ACA
- #health insurance
- #premiums
- Ellen Allen, a 63-year-old nonprofit director in West Virginia, currently pays $479 a month for ACA health insurance but expects her premium to rise to $2,800 a month next year due to expiring federal tax credits.
- The average enrollee will see a 75% increase in premium costs, with some facing even higher spikes, according to KFF analysis.
- Allen is saving money to cover the higher premiums but notes it will reduce her ability to save for retirement.
- She will turn 65 next year and transition to Medicare, limiting her high premium burden to 8-9 months.
- Congress could act to extend subsidies, but Republican lawmakers have shown little interest, potentially leaving millions uninsured.
- Sidney Clifton, a 54-year-old Florida resident with chronic health conditions, may struggle to afford his premium if it rises from $298 to $800-$1,000 per month without subsidies.
- Clifton considers job hunting or even marriage as alternatives to maintain health coverage.
- The end of enhanced tax credits is projected to increase the number of uninsured Americans by 4.2 million over the next decade.