Millions of people are at risk of losing health insurance if Congress chooses not to renew Affordable Care Act subsidies.
That's the latest estimate from the Congressional Budget Office, which found that 3.4 million Americans would lose health insurance if subsidies are not renewed.
The Affordable Care Act (ACA) is in a precarious position as President-elect Donald Trump is set to take control of the White House again in January due to Republican criticism of the health care law. .
Next year, Congress will need to vote on the ACA and whether to extend the subsidy, which is set to expire at the end of 2025.
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“The subsidy has significantly reduced monthly costs for people purchasing plans through the ACA Marketplace,” said Michael Ryan, financial expert and founder of michaelryanmoney.com. newsweek. “The enhanced subsidies introduced in 2021 expanded eligibility and saved enrollees more than $700 per year on average.”
The law, enacted by President Barack Obama, gives millions of uninsured Americans access to insurance, expands Medicaid eligibility, and prevents insurance companies from denying coverage to people with pre-existing conditions. It also prevented it from happening.
It also created tax subsidies aimed at lowering premiums for Americans who need health insurance but can't afford to pay the full premium.
Although some criticize the ACA for making the government more involved in healthcare decisions for ordinary Americans, 66% of people receiving federal aid say the ACA has been successful, according to a new eHealth report. He says he thinks he did. Additionally, 81% said the subsidies were affordable.
Mr Ryan said premiums would double or even triple in some areas if subsidies were not renewed.
“Many people will be forced to discontinue their insurance due to unaffordable costs,” Ryan said. “Who will this disproportionately impact? This would reverse the progress made to date in reducing racial and ethnic disparities in health care access.”
However, opposition to the ACA continues in the United States. The eHealth survey found that about 29 percent think high-risk people should pay more for insurance, and 73 percent to 76 percent think smokers and heavy drinkers should pay more for insurance. The answer is yes.
Overall, 56% said they wanted to reduce their premiums and co-pays.
Chris Fong, Medicare expert and CEO of Smile Insurance Group, said millions of Americans are at risk, including pregnant mothers, children and people with pre-existing conditions. He said that it has been done. However, he said the current system still has coverage gaps and could change in the future.
“The ACA is so deeply ingrained that even if there is a path to reform, we need to proceed slowly and carefully,” Fung said. newsweek. “There are gaps in the current system that leave behind people who are referred to Medicaid but are not eligible for tax subsidies because they cannot qualify for Medicaid under state eligibility requirements. of people will be left without health insurance.”
Robert Shapiro, a political science professor at Columbia University, said President Trump and the Republican Party could target the ACA and its subsidies in the future.
“There's going to be a fight over this, and Republicans should be careful,” Shapiro said. Newsweek.
But Kevin Thompson, financial expert and founder and CEO of 9i Capital Group, said that given the challenges faced in trying to dismantle the ACA during President Trump's first term, lawmakers It said it was still likely to reauthorize the subsidy.
“John McCain is no longer here to oppose extreme policies, but moderate Republicans will stand up to make balanced decisions for the American people,” Thompson said. he said. Newsweek.
“President Trump has expressed interest in replacing the ACA with a plan of his own design. But he has not offered a clear, workable plan. Health care is complex, and President Trump has expressed interest in replacing the ACA with a plan of his own design. I understand the risk of damaging my legacy if I get it wrong.” ”
