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Democrats Have Little Time To Avert An Election-Eve Obamacare Premium Hike

Added 05-16-22 09:54:03am EST - “A subsidy boost for the Affordable Care Act that lowers prices for millions will end this year unless the federal government acts.” - Huffpost.com

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Posted By TheNewsCommenter: From Huffpost.com: “A Big Health Insurance Spike Is Looming If Democrats Don't Act Soon”. Below is an excerpt from the article.

Health insurance premiums for millions of Americans will spike if Congress doesn’t act in the next few months, with particularly big increases in politically contested states, according to a report that the liberal advocacy group Families USA released on Monday morning.

The subject of the report is the fate of some extra, but temporary, financial assistance available to people who buy insurance on their own through HealthCare.gov or state-run online marketplaces like the Maryland Health Connection, Minnesota’s MNSure and Your Health Idaho.

The assistance, which President Joe Biden and the Democrats enacted as part of last year’s COVID-19 relief program, has reduced premiums by hundreds and sometimes thousands of dollars a year.

But the assistance is set to end in December. If that happens, prices will go back up and consumers will start to learn about the increases in the fall.

Monday’s Families USA report breaks down what that would mean in the 33 states using HealthCare.gov, based on a straightforward calculation using data that the U.S. Department of Health and Human Services published earlier this year.

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