Summary
Some people are experiencing higher health insurance premiums on the Affordable Care Act (ACA) marketplaces because the extra government help to lower costs, known as enhanced premium tax credits, has ended. These credits had been increased during the COVID pandemic to help more people afford insurance.
Key Facts
- ACA open enrollment started on November 1.
- Premium tax credits that helped lower insurance costs have expired, leading to higher costs for some.
- Many people may see their insurance premiums double without these extra credits.
- Since 2010, people earning up to 400% of the poverty level have received help paying for ACA insurance.
- During the COVID pandemic, the government temporarily provided more financial help to more people.
- According to a federal report, 92% of marketplace customers received premium tax credits in the previous year.
