Feb. 2 (UPI) -- A month after the Affordable Care Act enhanced premium tax credits expired, consumers are feeling the squeeze of increased costs with many downgrading or canceling healthcare coverage.
Despite the rising costs, 22.8 million consumers still enrolled in the healthcare coverage marketplace during the open enrollment period ending on Jan. 15, the Centers for Medicare and Medicaid Services said. This included 2.8 million new enrollees in individual plans.
The figures from CMS may be encouraging on their face but the expiration of enhanced premium tax credits is driving up prices and pushing people into lesser plans. Meanwhile the Congressional Budget Office estimates that 4 million people are projected to lose coverage at some point, becoming uninsured due to being unable to keep up with the costs.
The experiences of consumers vary greatly state by state. Some states, like Maryland, passed legislation to mitigate the rising costs of coverage in the case that Congress did not extend enhanced premium tax credits.
Michele Eberle, executive director of the Maryland Health Benefit Exchange told UPI this plan passed by state lawmakers has worked exactly as intended, helping keep consumers insured. However, she said that does not tell the whole story.
