Premiums will 'skyrocket' if marketplace subsidies expire, HHS says

HHS said premiums will skyrocket if Congress does not extend the subsidies for federal and state marketplace insurance plans included with federal coronavirus relief that are set to expire at the end of the year. 

According to a June 22 HHS fact sheet, if the subsidies are not extended: 

  • A projected 3 million people will lose their health insurance 
  • A projected 8.9 million people will have their subsidies reduced, averaging $406 per person annually 
  • A projected 1.5 million people will lose subsidies entirely, averaging $3,277 per person annually

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