Coalition of 28 Organizations Urges Congress to Keep ACA Enhanced Tax Credits

ACA enhanced tax credits representation with booklet and stethoscope.

Coalition Takes Stand: Why Affordable Care Act Tax Credits Matter

In a significant appeal, a coalition of 28 healthcare organizations, including the American Medical Association and AHIP, has urged Congress to extend the enhanced premium tax credits tied to the Affordable Care Act (ACA). These tax credits, initially introduced in 2020 as a response to the financial strains of the COVID-19 pandemic, are set to expire at the end of this year, threatening to dramatically spike healthcare costs.

The Financial Impact of Expiring Tax Credits

The coalition's letter, addressed to key congressional leaders, warns that if these credits lapse, the financial burden on American families could become untenable. Families earning moderate incomes could see their monthly health insurance costs soar, with examples indicating that a household of four making $64,000 could face a $2,600 increase in premiums. For a 60-year-old couple making $80,000, the figure could jump by a staggering $17,500.

Urgency of Action: Open Enrollment Approaches

As the open enrollment period for next year's coverage approaches on November 1, the call for immediate action becomes crucial. Millions of Americans enrolled in the individual market are already bracing to face potential premium hikes, emphasizing the need for a solution before it’s too late. “This is an urgent issue that affects both the cost of living and patient health,” the coalition noted, painting a troubling picture for the future of healthcare affordability in the United States.

Looking Ahead: The Role of Legislation

The coalition believes that congressional action can stave off this impending crisis. By including an extension of the enhanced tax credits in upcoming legislation, Congress has an opportunity to alleviate financial pressure for many Americans and maintain vital healthcare access. As healthcare professionals and industry innovators, it's imperative to advocate for solutions that ensure affordability and accessibility to healthcare as part of the larger narrative about health equity.

With just 100 days until the enrollment period opens, now is the time to raise your voice in advocating for the extension of these critical tax credits. Engage with local lawmakers and participate in discussions about how these changes could negatively impact communities.

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Coalition of 28 Organizations Urges Congress to Keep ACA Enhanced Tax Credits

Coalition Takes Stand: Why Affordable Care Act Tax Credits Matter

The Financial Impact of Expiring Tax Credits

Urgency of Action: Open Enrollment Approaches

Looking Ahead: The Role of Legislation

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