Congress Faces Deadline to Address Rising Health Care Premiums
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Congress has only nine meeting days left to address the looming expiration of COVID-era subsidies for health insurance, which could lead to significant increases in premiums for millions of Americans. According to Fox News, both the House and Senate face a tight deadline with the need for legislative action by January 15.
The expiration of these subsidies could result in 90% of the 24 million enrollees under the Affordable Care Act seeing their premiums rise dramatically, particularly affecting over 500,000 Ohioans, as reported by Cleveland.com.
The current average annual out-of-pocket premium for marketplace enrollees is anticipated to jump 114% next year, from $888 to $1,904. With the GOP divided on how to proceed, some lawmakers support extending the subsidies, while others advocate for a complete overhaul of the Affordable Care Act.
The urgency is compounded by ongoing negotiations over government funding, as the potential loss of coverage could strain healthcare systems even further. As the deadline approaches, Congress faces mounting pressure to find a viable solution amidst a complex political landscape.