In brief
A KFF poll shows that approximately 78% of Americans want Congress to extend expiring tax credits under the Affordable Care Act, amid a government shutdown. This call for extension spans across party lines, with significant support from both Democrats and Republicans. The impending high premium costs are expected to profoundly affect those currently enrolled in health insurance through the ACA. With awareness of this issue varying among the public, there's a push for Congress to act quickly as the November 1 enrollment period approaches.
NEW YORK (AP) — A recent poll from the nonprofit KFF indicates that a significant majority of Americans desire Congress to extend tax credits linked to health insurance; failure to do so could lead to skyrocketing costs for millions. Conducted just before the current government shutdown, the poll showed 78% of respondents support the renewal of expiring tax credits for those purchasing insurance through the Affordable Care Act (ACA) marketplace.
This sentiment is evident across party lines; while most Democrats endorse the extension, a majority of Republicans are also in favor, including 57% of individuals aligning with former President Trump’s initiatives.
The expanded tax credits, introduced in 2021 and extended a year later, have allowed many low-income enrollees to secure health plans without premiums, while capping premiums for high earners to 8.5% of their income. If these credits expire, premiums could more than double for the average enrolee, potentially impacting around 24 million people who signed up for health coverage through the ACA.
However, the stark reality is that many Americans are unaware of these impending changes. Roughly 60% of those buying their own insurance have heard little to nothing regarding the tax credits’ expiration. Alarmingly, 70% of ACA Marketplace enrollees admitted they couldn't afford nearly double the current premium costs without severely affecting their household finances.
As negotiations in Congress continue, public awareness remains a critical factor. There’s an urgent need for dialogues to ensure that millions of Americans don’t face drastic increases in health care costs as the open enrollment period approaches on November 1.
