Peter Schorsch
With the “Big Beautiful Bill” now law, Congress now shifts focus to other priorities it must address before year’s end. Key among them is the enhanced Affordable Care Act premium tax credits.
The tax credits are scheduled to expire at the end of the year. If Congress does not extend them, premiums will skyrocket for millions of Americans on private health care coverage, forcing many to lose coverage.
A KFF Health Tracking Poll conducted last month reveals robust support across party lines for extending enhanced premium tax credits. In fact, 77% of all adults, including 63% of Republicans, back the move.
With more than 4 million people relying on the marketplace for health care coverage, Florida has the highest proportion in the nation of residents enrolled. The enhanced premium tax credits are key to making the coverage both accessible and affordable.
If the tax credits expire, a family of four earning $64,000 per year would see premiums increase by more than $2,500. A 60-year-old couple earning $82,000 per year would pay $19,000 more for their health care coverage. The spike is just too much for some to stomach.
If Congress does not act, the Congressional Budget Office expects nearly 2 million Floridians will be without health care by 2034.
When the KFF Health survey informed participants that roughly 4 million Americans will lose health insurance if the tax credits expired, support increased, especially among Republicans and MAGA supporters.
After learning of the impacts, 72% of Republicans and 65% of MAGA supporters say they want Congress to extend the tax credits.
