ICYMI: Morning Consult: With Pandemic-Era Obamacare Subsidies in Flux, State Marketplaces Prep for Premium Surges, Coverage Disruptions 

FOR IMMEDIATE RELEASE 
June 28, 2022

Contact: 
Jack Miller, Communications Director
[email protected]

ICYMI: Morning Consult: With Pandemic-Era Obamacare Subsidies in Flux, State Marketplaces Prep for Premium Surges, Coverage Disruptions 

In Case You Missed It – State healthcare marketplaces are preparing for major out-of-pocket cost increases if Congress does not renew federal subsidies that made Obamacare coverage more affordable.

More than 3 million new enrollees signed up for Affordable Care Act coverage last year, bringing the total number of participants to 14.5 million Americans. Individuals with incomes of roughly $52,000 became eligible for assistance, and nearly 1/3rd of enrollees are paying just $10 or less for coverage.

If these ACA subsidies are not renewed, rates will surge for millions of Americans and endanger their coverage.

Read Morning Consult’s Coverage

KEY QUOTES:

  • A record 14.5 million people signed up for Affordable Care Act coverage this year, including 3.1 million new enrollees, driven in part by cheaper insurance options after Congress passed generous marketplace subsidies as part of the American Rescue Plan last year.

  • This year, after the tax credits, people with Obamacare paid an average monthly premium of $133, down from $164 in 2021. Without the premium tax credits, consumers would’ve paid an average of $585 per month for marketplace coverage this year.

  • And while intraparty fighting over more controversial policy proposals means it’s still unclear whether Democrats will be able to push a package through, the clock is ticking: If the subsidies aren’t extended, people with ACA coverage would be notified of their premium increases in October.

  • The public health emergency’s “unwind is going to be a disaster if we don’t have affordability tools in place on the marketplace,” Strumolo said, adding that the two initiatives are “totally interdependent.”

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Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.

The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.

Learn more at InvestInAmericaNow.com and @InvestNowUSA, and InvestinAmericaProject.com.

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