In less than 90 days, millions of people across the United States will receive bad news: their health insurance premiums and out-of-pocket costs are dramatically increasing.
These price hikes will affect 24 million people currently enrolled in Affordable Care Act (ACA) exchange plans.1 You’re probably wondering, why?
When the Inflation Reduction Act was passed in 2022, it included increased subsidies for middle-class Americans who purchase health coverage through the ACA marketplaces. While these subsidies lowered premiums for 92% of enrollees in marketplace plans, the policy is set to sunset at the end of this year.2
At the same time, President Trump and congressional Republicans’ recently passed budget bill includes the largest cut ever to Medicaid and Medicare. The latest estimates predict that up to 17 million people will lose their health insurance altogether, but for those who keep their ACA plans, they can expect to pay on average 75 percent more, making health care even less affordable than it already is.3
These are the highest health insurance premium hikes since 2018.
This is what happens when those in power decide to undermine our federal health care programs with historic cuts, all for the sake of giving millionaires and billionaires more tax breaks.
It doesn’t have to be this way – not if we build the political will to ditch this broken, for-profit health care system and replace it with Medicare for All: a single-payer, universal health care system that slashes administrative costs and guarantees care for all, regardless of ability to pay.
As we keep up our fight to hold Republicans and the Trump administration accountable for these cruel cuts, we are also working to strengthen and expand our movement to pass Medicare for All.
In solidarity,
Nurses' Campaign to Win Medicare for All
Sources:
1 - The American Prospect
2 - Center on Budget and Policy Priorities
3 - The American Prospect
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