Brace yourself, America — health insurance costs are about to skyrocket.
As open enrollment begins for Affordable Care Act (ACA) plans, millions could soon face jaw-dropping premium hikes.
For the roughly 24 million Americans who rely on the ACA marketplace, the end of federal tax credits could mean monthly costs doubling — or worse.
The health policy group KFF estimates prices could soar by 114% on average, adding over $1,000 a year for many families.
Democrats want to extend the subsidies — which expire this year — as part of a deal to end the ongoing federal government shutdown.
Insurance Crisis Looms
Republicans, however, insist the two issues should be handled separately.
For small business owner Stacy Cox from Utah, the numbers hit hard.
“It’s horrific to actually see real numbers,” she said, after learning her monthly premiums could leap from $495 to $2,168 — a 338% increase.
She and her husband, both managing health conditions, may have to settle for bare-bones emergency coverage.
Experts warn that up to seven million people could drop coverage altogether if subsidies vanish — with millions left uninsured.
As the shutdown drags on, one thing’s clear: in Washington’s political standoff, ordinary Americans are paying the price — literally.
