CAHC’s Joel White spoke with WTOP about extending subsidies for people who rely on the Affordable Care Act for their health insurance.
But Joel White, president of the Council for Affordable Health Coverage, said most health insurance consumers will pay more whether they are obtaining it through the ACA or not.
“Regardless of the fate of the enhanced tax credits, I think most consumers will see probably higher premiums this year,” White said. It’s a result of rising health care costs.
“The cost of hospitals, doctors, drugs, primarily drive up those premiums. And then enhanced tax credits expiring have a more minimal impact. It’s about a third of the cost increase. Really it’s the cost of services that’s driving up those premiums.”
But White said the foundational credits will remain, even if the enhanced subsidies expire.
“The underlying credits that are available to people with incomes four times the poverty level and below are staying in place. Regardless of what Congress does, those subsidies that are going to pick up about 86% of the cost of the premium remain,” White said.
For that reason, White added that shopping around to find the best price is important.