Up to Four Million Consumers Could Lose Insurance if Enhanced ACA Subsidies Expire
By Consumers for Quality Care, on December 11, 2024
Increased subsidies for Affordable Care Act (ACA) health plans are set to expire at the end of next year. If Congress doesn’t extend them, four million consumers could lose health coverage, according to an analysis from the Urban Institute and reported by Healthcare Dive.
The enhanced ACA subsidies, enacted during the beginning of the COVID-19 pandemic, have allowed a record number of consumers to enroll in health plans through the ACA marketplace. These subsidies have been particularly helpful to vulnerable populations gaining access to needed health care, such as low-income consumers, communities of color, and residents that live in states that have not expanded Medicaid. If the ACA subsidies expire, those populations would be hurt much more than others.
“Allowing these credits to expire will force families to choose between healthcare and other necessities like housing and food,” said Kathy Hempstead, Senior Policy Adviser at the Robert Wood Johnson Foundation, which contributed to the report. “The implications will be profound, with the ripple effects being felt across the entire U.S. economy.”
CQC urges lawmakers to extend enhanced income-based subsidies beyond 2025 so that consumers will be guaranteed access to affordable, high-quality health insurance.
