Millions of Americans will lose their health insurance coverage across the next few years if Republicans get their way, according to a report from the nonpartisan Congressional Budget Office published on Thursday.
That's because Republicans want to allow the expiration of enhanced premium tax credits, which millions receive to help pay for health insurance in the Affordable Care Act marketplace.
The CBO estimates that Republican plans to let the tax credits expire would not only lead to a loss of coverage for “3.8 million, on average, in each year over the 2026-2034 period,” but also force those who remain in the marketplace to face higher premiums.
Premiums would rise by 4.3% in 2026, the CBO estimated, with them eventually rising by 7.9%.
“CBO expects that healthier-than-average people will exit the marketplaces if the expanded credits are no longer available and, in response, insurers will raise premiums for the remaining enrollees,” the report said.
