Summary
Many Americans with health insurance through the Affordable Care Act (ACA) are facing higher costs this year. The increase in expenses is causing some to cut back on essentials like food. This change follows the end of extra tax credits that helped reduce premiums.
Key Facts
- A new survey shows 8 in 10 Americans with ACA insurance have higher health care costs this year.
- About half of those surveyed say their costs are "a lot" higher.
- A key reason for the increase is the expiration of enhanced tax credits on December 31, which previously lowered premiums for many users.
- Approximately 55% of those surveyed plan to cut spending on food and other basics to manage health care expenses.
- Democrats tried to extend COVID-era ACA subsidies but faced opposition, resulting in higher costs for enrollees.
- Around 75% of ACA insurance holders are worried about unexpected medical costs.
- About 7 in 10 kept their ACA insurance, but 3 in 10 changed plans within the marketplace.
- Many blame insurance companies and politicians for the higher costs.
