Washington D.C — On Friday, the Department of Health and Human Service published a report showing that nearly four million people who signed up for Affordable Care Act plans this year have already lost their coverage after congressional Republicans ended the ACA tax credits. The analysis shows that the loss of these tax credits jacked up many ACA policyholders’ monthly premiums, in some cases by double or more. This report comes as higher costs, created by the Republican Tax Law, continue to leave working families with fewer affordable health care options while skyrocketing prices for gas and groceries place additional financial pressure on Americans’ budgets.
“As numerous analysts predicted, the Republican Tax Law is making health care even less affordable and imperiling millions of people’s ability to access life-saving care,” said Unrig Our Economy Campaign Director Leor Tal. “Working families are paying more for health insurance while Republicans prioritize tax breaks for billionaires and large corporations. Congressional Republicans should start protecting Americans’ health care, not make it even more expensive for the people who need it most.”
The Wall Street Journal: Millions of Americans Drop Obamacare Plans After Withdrawal of Subsidies
Key Points:
- Nearly four million people who signed up for Affordable Care Act plans this year have already dropped their coverage after the loss of subsidies resulted in sharply higher costs.
- The Department of Health and Human Services released figures Friday that offered the first definitive view of enrollment after the withdrawal of enhanced government support for ACA plans, which ended at the start of this year. The shift boosted many ACA policyholders’ premium bills, in some cases by 100% or more.
- A report released by the department’s assistant secretary for planning and evaluation said that an estimated 19.2 million people are enrolled in ACA plans as of February. That would represent a drop-off of more than 16% from approximately 23 million who signed up for ACA coverage during this year’s open enrollment period.
- The ACA subsidies were the focus of a political fight that resulted in the longest-ever federal government shutdown last year, with Democrats pushing to retain the payments that they first enacted in 2021.
To learn more about the campaign, visit UnrigOurEconomy.com or contact press@unrigoureconomy.com