Expiring healthcare tax credits could raise premiums for millions of Americans

As open enrollment begins November 1, expiring healthcare tax credits could raise premiums for 22-million Americans and affect access to affordable coverage.

The expiration of these healthcare affordability provisions comes at a time when grocery, housing, and utility prices are already stretching household budgets.

Experts warn that without congressional action to extend these credits, health insurance premiums for more than 22-million people could double, forcing many families to reconsider or drop their coverage altogether.

“Tennessee is going to see very high premium increases. An average of 320% and 210,000 people are projected to lose their health insurance entirely between the cuts to the affordable care act and Medicaid,” said Adam Rueben, vice president of the economic security project.

The ripple effects could reach far beyond those enrolled in the Affordable Care Act; impacting hospitals, clinics, and emergency rooms nationwide as more un-insured individuals turn to costly emergency care.

For more U.S. news, click here.