Health insurer lobby and trade group America's Health Insurance Plans is calling on Congress to permanently extend ACA premium subsidies included with federal coronavirus relief that are set to expire at the end of the year.
The group commissioned a study from healthcare business consulting firm Avalere Health that found that millions will pay more for ACA marketplace coverage if the subsidies expire.
Six takeaways from the April 26 report:
1. Almost 3 million Americans would become uninsured if the subsidies expire.
2. More than 1.5 million would lose subsidy eligibility to lower premiums, but would remain insured.
3. Almost 9 million would remain enrolled in marketplace coverage with reduced premium subsidies and owe more in out-of-pocket costs.
4. A 27-year-old individual earning 149 percent of the federal poverty line would pay $795 more per year for out-of-pocket premiums.
5. A 46-year-old individual earning 325 percent of the federal poverty line would pay $1,304 more per year for out-of-pocket premiums.
6. A 55-year-old couple earning 405 percent of the federal poverty line would pay $9,130 more per year for out-of-pocket premiums.
Read the full study here.