In
a
pair
of
letters,
195
members
of
Congress
recently
urged
leadership
to
extend
the
enhanced
premium
tax
credits
that
will
expire
in
2025.
The
enhanced
premium
tax
credits
—
which
were
introduced
in
2021
—
lowered
health
insurance
premium
costs
for
millions
of
people
purchasing
coverage
on
the
marketplace.
One
of
the
letters
was
signed
by
41
Senators
and
was
addressed
to
Majority
Leader
Chuck
Schumer
(D-New
York)
and
Minority
Leader
Mitch
McConnell
(R-Kentucky).
The
other
was
signed
by
154
U.S.
representatives
and
was
sent
to
Schumer,
McConnell,
House
Speaker
Mike
Johnson
(R-Louisiana)
and
House
Leader
Hakeem
Jeffries
(D-New
York).
The
letters
stated
that
because
of
the
enhanced
premium
tax
credits,
monthly
premiums
for
marketplace
plans
have
been
reduced
by
an
average
of
$59
per
person.
In
addition,
a
record
21.4
million
people
enrolled
in
Marketplace
plans
for
the
2024
Open
Enrollment
Period.
They
also
had
a
substantial
impact
on
health
equity.
There
was
a
95%
increase
in
Marketplace
enrollment
among
Black
Americans
and
a
100%
increase
among
Hispanic
Americans
between
2020
and
2023,
the
members
of
Congress
argued.
“The
enactment
of
the
enhanced
[premium
tax
credits]
by
Congress
was
a
foundational
step
towards
keeping
health
care
premiums
low
and
putting
money
back
in
families’
pockets
–
and
our
work
is
just
getting
started,”
the
U.S.
representatives
stated.
“By
including
provisions
to
extend
the
enhanced
PTCs
in
the
soonest
possible
legislative
opportunity
and
creating
a
pathway
for
making
them
permanent,
we
can
finish
the
job
for
the
American
people
and
keep
quality
health
care
within
reach
for
our
constituents.
American
families
cannot
afford
to
go
back
to
paying
upwards
of
20%
–
or
more
–
of
their
household
income
on
health
care
premiums.
”
If
the
enhanced
premium
tax
credits
expire,
more
than
20
million
people
will
experience
an
increase
in
their
health
insurance
costs,
and
about
3
million
people
could
lose
their
coverage,
the
letters
argued.
“The
enhanced
[premium
tax
credits]
have
protected
millions
of
Americans
from
higher
health
care
costs,
reduced
the
number
of
Americans
without
coverage,
provided
robust
choices
for
consumers
and
provided
stability
for
health
care
providers,
particularly
in
rural
areas,”
the
senators
said.
“It
is
clear
that
the
enhanced
PTCs
have
proven
to
be
an
overwhelming
success,
and,
as
millions
of
Americans
face
an
increase
in
their
insurance
costs,
it
is
time
to
make
the
investment
permanent.
We
strongly
urge
the
Senate
to
act
to
extend
this
financial
support
as
soon
as
possible.”
While
research
shows
that
every
state
and
people
of
all
ages
and
income
will
see
higher
premiums
if
the
enhanced
premium
tax
credits
expire,
certain
groups
will
especially
be
impacted,
the
letters
argued.
This
includes
those
in
smaller
and
rural
states,
older
enrollees,
and
those
with
incomes
above
400%
of
the
federal
poverty
level.
“This,
in
turn,
would
strain
hospitals,
physicians,
nurses,
pharmacies
and
others
whose
care
would
continue
without
compensation,
compounding
pre-existing
problems,
and
could
be
disastrous
for
rural
and
underserved
communities,”
the
senators
said.
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