Sticker shock may await millions of Americans who must start to sign up for their coverage in November
Earlier this month, Julie Morringello, an artist in rural Maine, received a notice that her health care premiums could nearly double next year. She now pays $460 a month for her"Obamacare" plan, but that amount is contingent on government subsidies that the Republican-controlled Congress may not extend.
"I don't know what we're going to do," Morringello, 58, said. Her insurance also covers her 14-year-old daughter, and forgoing a plan altogether isn't an option because Morringello has a history of cancer and needs continuing care. Similar sticker shock may await millions of Americans who must start to sign up for coverage in November. The vast majority of people enrolled in plans under the Affordable Care Act receive additional federal tax credits that were first expanded by President Joe Biden and Congress in 2021. Those subsidies, set to expire at the end of the year, are now the subject of a standoff between Democratic and Republican lawmakers. Democratic leaders in both the House and Senate have demanded an extension in exchange for their support of a government spending bill that must pass by the end of this month to prevent a government shutdown. Republican leaders have cited the high cost of the subsidies, estimated at about $350 billion over 10 years, and potential fraud in enrollments for the program. And they have balked at attaching an extension onto this month's short-term spending bill. Ex // Top Stories Upzoning is the new Great Highway in SF politics Why Joel Engardio’s downfall is now Daniel Lurie’s problem SF eviction cases rise to highest levels in 10 years Tenant advocates warn the increase could be a sign of deepening economic distress. But landlords say the apparent wave is less than it seems SF serves its best in Laver Cup's West Coast debut The City's first time hosting the tournament was an ace, Ali Wunderman writes But many individual Republican lawmakers have expressed a willingness to extending the funding in some form, acknowledging that its disappearance would hurt their constituents before the midterm elections. If a deal is not struck, more than 20 million Americans will face higher insurance premiums next year. The Senate was unable to pass any version of the spending bill last week, increasing the risk of a government shutdown over the issue. "The consequences are potentially pretty dire for the 24 million people in the marketplaces whose costs are going to skyrocket," said Drew Altman, the CEO of KFF, a nonpartisan health research group. KFF has estimated that Americans' share of premiums could increase by an average of more than 75%. About 2 million people are expected to lose their coverage next year if the extra funding expires, according to estimates from the Congressional Budget Office.
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