Skip to content

Millions drop ACA coverage after Congress lets Obamacare subsidies expire

newsMay 1, 202630869

Congress allowed the Affordable Care Act premium tax credits to expire, and millions of people are dropping marketplace coverage, the New York Times reports. Wakely Consulting Group estimates enrollment in the marketplaces could fall by as much as 26 percent compared with last year while insurers are pulling out of some state marketplaces. In many markets premiums have surged; early retirees with middle-class incomes faced increases of $1,000 a month or more, prompting some consumers to cancel plans. That shift will push more people uninsured and concentrate higher-risk enrollees in remaining plans, raising costs for the customers WHO stay and reshaping access to care.

1 source