Health Subsidies Expire for Millions of Americans in Wake of ACA Repeal Efforts
Millions of Americans who rely on enhanced tax credits to afford health insurance will face higher healthcare costs starting Tuesday as subsidies expire under the Affordable Care Act. The changes are expected to increase premiums for those in the 2023 health insurance plans that use these subsidies.
Millions of Americans will face increased health costs after enhanced tax credits that helped reduce the cost of health insurance under the Affordable Care Act expired overnight. The subsidies, which covered between 60% and 100% of premium costs for most enrollees, were set to expire on December 31. As a result, many people may struggle to afford their monthly health insurance payments, leading to potential disruptions in care. Some experts warn that the lapse could have significant consequences for those relying on these subsidies.
