Pandemic-era tax credits have worked wonders boosting the number of insured Americans The Premium Tax Credits are set to expire at the end of 2025, however If Congress doesn't extend the credits beyond that deadlines, millions could be thrown yet again in the ranks of the uninsured TUESDAY, June 18, 2024 (HealthDay News) -- In a success story for Americans seeking affordable healthcare coverage, tax credits put in place during the pandemic helped millions gain health insurance, a new report found. Trouble is, the credits are set to expire at the end of 2025, noted a research team from the nonprofit Robert Wood Johnson Foundation (RWJ). According to RWJ's , so-called enhanced Premium Tax Credits will reduce the number of uninsured Americans by 4 million next year, and boost enrollment in the Affordable Care Act (ACA) health insurance marketplace by 7.
2 million. The credits were put into place by Congress during the pandemic to help folks hang on to health insurance. The strategy worked, with the new modeling analysis finding: a predicted 14% reduction in the number of uninsured Americans in 2025, alongside a 71% boost in ACA marketplace enrollment 50% to 100% reductions in premiums for 2025 in the lowest income households (those below 300% of the federal poverty level) and about a 25% reduction for households above that level About a doubling of ACA marketplace enrollment in five states -- Texas, South Carolina, Mississippi, Louisiana and Georgia -- leading to roughly a 21% re.
