FAH and other provider and insurer groups recently sent a letter to Congressional leaders urging for the permanent extension of Affordable Care Act (ACA) tax subsidies. Last year, American Rescue Plan Act (ARPA) expanded access to the ACA advanced premium tax credits, ensuring no American would spend more than 8.5 percent of their income on health insurance premiums. It also made the credits more generous for low-income families. As a result, 14.5 million Americans enrolled in the program in 2022, but these tax credits will expire on December 31, 2022. If the deadline passes, the lowest income enrollees could see their premiums increase from less than $1 per month to $26 per month.

“We call on Congress to act now to make these expanded tax credits permanent, ensuring millions of low- and middle-income families continue to have access to affordable coverage in 2023 and beyond. Our country continues to work through the economic and public health implications of COVID over the past two years, including rising inflation which is forcing families to pay more at the grocery store and the gas pump. We cannot add to these burdens by putting the health care of 14.5 million current marketplace enrollees, and millions of potential future enrollees at risk. Now is the time to ensure much-needed stability for all those who provide, pay for, and receive health care services,” closes the letter.

Click here to review the entire letter.