These enhanced tax credits are set to expire under current law. This would send premiums skyrocketing and mean fewer New Yorkers are able to afford coverage at all, including children and families, people with chronic conditions, early retirees, small business owners, and hourly workers.
Without congressional action, this tax credit will expire at the end of 2025, and American families will see huge increases in their health care premiums, putting coverage out of reach for millions.
On average, premiums will increase 93% if the tax credits are allowed to expire, and an estimated 5 million Americans will lose health coverage entirely, including nearly 2 million people with chronic conditions.
Please help by sending a message to your Congressional Representative and U.S. Senators to vote on extending the tax credits as soon as possible.