Free daily briefing on global business news.
Congress let enhanced ACA subsidies expire after months of political gridlock. Millions now face premiums they can no longer afford
Tom Williams / CQ-Roll Call, Inc via Getty Images
For five years, millions of Americans paid as little as $10 a month for health insurance through the Affordable Care Act marketplace. The enhanced premium tax credits that Congress created during the pandemic made that possible, turning coverage that had been out of reach for middle-income families into something they could afford.
On Jan. 1, the help they relied on suddenly disappeared. Congress let the credits expire after a government shutdown and months of legislative gridlock, and the premiums that returned in January reflected the full cost of coverage without them. More than a million people dropped their plans during open enrollment alone.
