The record-low premiums that led to a 2 million enrollee increase this year was largely due to increased and expanded subsidies. Funding came from a $1.9 trillion COVID-19 aid bill in March 2021.
However, the subsidies are set to expire at the end of 2022, meaning unless the government passes a long-term plan — including President Biden’s $2 trillion social spending bill, which would extend subsidies through 2025 — premium costs will spike at the end of the year, according to the Post.
In many cases, millions of enrollees will see premiums double if subsidies are not extended, Cynthia Cox, a vice president at the Kaiser Family Foundation, told the Post.
