Congress Must Act Now to Extend ARP Premium Savings and Protect the Progress Made in the Fight for Affordable Health Care
Washington, DC — On Thursday, June 23, 2022, Protect Our Care will partner with health care activists, advocacy groups, and concerned citizens for a day of action to sound the alarm on health insurance premium hikes and call on Congress to extend the American Rescue Plan’s enhanced premium tax credits. As part of the day of action, Protect Our Care and allies will engage social media campaigns, make calls to key members of Congress, and amplify the stories of Americans who will be impacted if Congress fails to act urgently to keep health care premiums low.
President Biden’s American Rescue Plan saved families thousands on their premiums, driving record enrollment and giving people breathing room to pay for other necessities. But the expanded tax credits that powered those savings are set to expire at the end of the year, and as a result, millions will see dramatic increases in their 2023 health insurance premiums — many will no longer be able to afford insurance at all. Last November, House Democrats passed legislation to prevent premiums from skyrocketing at the end of this year. Now, congress must extend the premium tax credits to ensure hardworking families can continue to access the health care they need.
“The nation is on the verge of a health care crisis. If lawmakers fail to act now, millions could pay thousands more on their health insurance premiums, and as many as three million people are at-risk of losing coverage altogether,” said Protect Our Care Executive Director Brad Woodhouse. “Congress must extend the premium tax credits before it’s too late so families can continue to access the health care they need.”
If Congress Fails to Act:
- Millions Will Lose Coverage. More than 3 million people will become uninsured if the American Rescue Plan’s enhanced premium tax credits expire—increasing the number of uninsured Americans by 11 percent.
- Premium Increases Will Be Widespread. Insurers are already pursuing double-digit premium increases. Nearly nine million Americans will retain their marketplace coverage but will be forced to pay significantly higher rates.
- Geographic And Racial Disparities Will Grow. Three states—Florida, Georgia, and Texas—will make up half of the increase of uninsured Americans if the tax credits are allowed to lapse. Americans living in rural areas, like West Virginia, will suffer disproportionately, with premiums already an average of 10 percent higher than in urban areas.