The deadline to enroll in Affordable Care Act plans for coverage starting Jan. 1 is Dec. 15, as key subsidies are set to expire at the end of the year unless Congress intervenes, a lapse that could drive health insurance costs higher for millions of Americans.House Republicans are expected to vote on a health care bill later this week, but it does not address the extension of ACA subsidies, leaving many Americans facing difficult decisions before the deadline.Chrysa Ostenso, a former small business owner from Wisconsin, expressed her concerns about rising costs.“My premium was close to nothing, and now I’m supposed to pay $1,500 a month for that same policy, except the deductible is actually going up from $6,000 to $7,200,” Ostenso said.She said the decision is forcing her to draw from her retirement savings. I’m not thrilled about pulling so much into those assets at the age of 62, but I also don’t want to go without health insurance,” she said.The potential expiration of ACA subsidies, which currently help keep premiums lower, is driving those concerns. Congress has been unable to pass legislation to address the issue, with the Senate failing on competing measures last week. This week, House Republicans plan to pass a bill focused on employer-sponsored health care and prescription drug costs, but it does not extend ACA subsidies.Matthew McGough from KFF highlighted the impact of the situation.“What this really means is that a lot of people are going to have to make some tough decisions when they’re signing up for a plan next year,” McGough said.With lawmakers scheduled to leave Washington for the holiday recess this week, time is running out for Congress to act. While the final deadline to sign up for coverage is Jan. 15, coverage for those who enroll after Dec. 15 will not begin until Feb. 1. Health experts advise those still undecided due to cost to consider signing up before the deadline, noting that coverage can be dropped later, but re-enrollment may not be possible if they change their mind.
The deadline to enroll in Affordable Care Act plans for coverage starting Jan. 1 is Dec. 15, as key subsidies are set to expire at the end of the year unless Congress intervenes, a lapse that could drive health insurance costs higher for millions of Americans.
House Republicans are expected to vote on a health care bill later this week, but it does not address the extension of ACA subsidies, leaving many Americans facing difficult decisions before the deadline.
Chrysa Ostenso, a former small business owner from Wisconsin, expressed her concerns about rising costs.
“My premium was close to nothing, and now I’m supposed to pay $1,500 a month for that same policy, except the deductible is actually going up from $6,000 to $7,200,” Ostenso said.
She said the decision is forcing her to draw from her retirement savings.
I’m not thrilled about pulling so much into those assets at the age of 62, but I also don’t want to go without health insurance,” she said.
The potential expiration of ACA subsidies, which currently help keep premiums lower, is driving those concerns.
Congress has been unable to pass legislation to address the issue, with the Senate failing on competing measures last week. This week, House Republicans plan to pass a bill focused on employer-sponsored health care and prescription drug costs, but it does not extend ACA subsidies.
Matthew McGough from KFF highlighted the impact of the situation.
“What this really means is that a lot of people are going to have to make some tough decisions when they’re signing up for a plan next year,” McGough said.
With lawmakers scheduled to leave Washington for the holiday recess this week, time is running out for Congress to act. While the final deadline to sign up for coverage is Jan. 15, coverage for those who enroll after Dec. 15 will not begin until Feb. 1. Health experts advise those still undecided due to cost to consider signing up before the deadline, noting that coverage can be dropped later, but re-enrollment may not be possible if they change their mind.
