Alaskans Face Potential Health Insurance Premium Hikes as Federal Tax Credits Near Expiration
ANCHORAGE, Alaska – Roughly 25,000 Alaskans who rely on health insurance plans through the federal marketplace could see critically important premium increases in the coming months if Congress fails too extend enhanced premium tax credits before the end of the year. The potential lapse stems from a political impasse in Washington, D.C.,and threatens to dramatically raise healthcare costs for manny individuals and families across the state.
The Affordable Care Act (ACA) provides tax credits to lower monthly premiums for eligible individuals and families purchasing health insurance through the federal exchange. These enhanced credits, initially expanded during the COVID-19 pandemic, are set to expire, potentially leaving Alaskans on the hook for substantially higher costs.
The impact will vary based on age, income, and family size, but increases could reach hundreds or even thousands of dollars per month. Those affected include small-business owners and retirees not yet eligible for Medicare,among others.
Alaska’s news Source is seeking to understand how these potential changes are impacting Alaskans. If you purchase health insurance through the federal marketplace, we want to hear from you. How are you preparing for possible increases in the cost of healthcare? Share your story [insert contact information/link to submission form here].
