In less than three weeks, millions of Americans who rely on the Affordable Care Act for their health insurance could see their premiums skyrocket. Julie Rovner, chief Washington correspondent at KFF, joins "The Daily Report" to discuss.

Washington

Enhanced subsidies for Affordable Care Act (ACA) health insurance, introduced in 2021 during the COVID-19 pandemic, are set to expire at the end of the year. This change will affect approximately 22 million of the 24 million Americans enrolled through ACA exchanges, with many expected to see their premiums more than double.

Individuals with higher incomes will lose all federal aid, while those with lower incomes will lose additional benefits, resulting in increased out-of-pocket costs. Despite ongoing discussions about health care reform, Congress has not yet taken action to address the underlying causes of rising health care costs.

How the end of Affordable Care Act subsidies will impact premiums

Turning to one of our top stories this evening, in less than three weeks, millions of Americans who rely on the Affordable Care Act for their health insurance could see their premiums skyrocket. The Senate today failed to pass two separate measures aimed at addressing Americans' concern over the cost of health care. Joining us now is Julie Robner, the chief Washington correspondent at KFF Health News. Julie, what are the potential ramifications if these subsidies go away? Well, not all the subsidies are going away, but the larger subsidies that were put in place in 2021 during COVID are what are expiring at the end of this year. And for roughly 22 million of the 24 million people who get their insurance through the Affordable Care Act exchanges, the amount that they're going to be asked to pay in premiums is going to go up in some cases very dramatically. Some people are going to lose all federal aid entirely, people at the higher end of the income scale, and even those at the lower end are going to lose these sort of extra benefits that they had been getting. And so they'll be asked to pay a much larger share of their premiums. What does really dramatically mean? What are we talking about? And can you kind of help us understand how it will vary per individual or family? Yeah, my colleagues at KFF have calculated that the average premium is going to go up about 114 percent. So it's going to more than double. Your premiums, what you're asked to pay in premiums is based on your income. So the lower your income, the smaller percentage of your income you're asked to pay. Under the original subsidies that were there when the Affordable Care Act was passed in 2010, those subsidies ended at 400 percent of poverty. That's about $60,000 for an individual, about $100,000 for a family of three. The 2021 enhanced subsidies took that cap off. So anybody who makes more than that will lose all of their federal help. They could see the most dramatic increases. Some people I'm hearing are seeing not just double, but triple or even quadruple what they're paying now. They'll be asked to pay and starting in 2026. Wow. It has been now more than 15 years since the Affordable Care Act was passed. Both parties have been talking about reform. What needs to be done? What are you hearing from people you guys are talking to? Well, you know, the Republicans are right when they say that the subsidies are really just putting a Band-Aid over the bigger problem of higher health care costs. But the Republicans haven't really suggested ways to bring down health care costs. There's a lot of reasons that health care spending is going up and that health care, the cost of health care is going up. It's mostly a price problem. A lot of it stems from things like consolidation of providers, private equity, getting into health care, aging baby boomers, expensive prescription drugs, including GLP-1 drugs. There are a lot of things that Congress could do on a bipartisan basis to start to sort of slow that increase. They just haven't done it yet. Julie Robner, I always learn when you come on. Thank you so much. Thanks for having me.

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Jerusalem

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