Healthcare Costs Rise: What's Next for ACA Shoppers?

The Affordable Care Act (ACA) is in a tough spot. Congress can't agree on extending subsidies, and people are feeling the pinch. With open enrollment in full swing, many are worried about higher costs. A recent poll shows that half of the people who use the ACA say a $1,000 increase in their health care costs could change how they vote in the next election.

Congress Deadlocked

In Washington, the Senate tried to extend the subsidies but couldn't get enough votes. The House is working on a plan, but it doesn't include the subsidies either.

• Democrats want to keep the subsidies.
• Republicans are split:
• Some want to extend them.
• Others don't like the cost or the idea of supporting the ACA.

Public Uncertainty Grows

Meanwhile, people are trying to figure out their health insurance. The deadline to choose a plan for January coverage was Monday. But with Congress still debating, there's a lot of uncertainty.

• Some states are already seeing fewer new sign-ups.
• More people are canceling their plans.

Marketplaces Brace for Changes

The ACA marketplaces are also preparing for changes. They have plans to update their websites if Congress makes any last-minute decisions. But with so few days left in the year, it's unclear what will happen.

Subsidies Set to Expire

The enhanced subsidies, introduced during the COVID pandemic, are set to expire at the end of the year. Without them, people will have to pay more for their coverage.

• The lowest-income people will pay at least 2.1% of their income toward their premiums.
• The highest earners will pay nearly 10%.
• People earning more than four times the federal poverty level won't get any subsidies at all.

A Big Deal for Many

This is a big deal for many people.

• Some are seeing their premiums double.
• Others are having to choose between health insurance and other necessities.

It's a tough situation, and it's not clear when or if Congress will act.