Zimbabwe News Update
bbc
3 min read
Americans are expected to see skyrocketing health care prices as the open enrollment period for insurance through the Affordable Care Act marketplace begins on Saturday.About 24 million people buy health insurance through the marketplace, the majority of whom used to receive tax credits to lower the monthly price of insurance.Without credits, the monthly cost could rise by 114% on average, according to health research nonprofit KFF. This could mean an extra $1,000 a year, and in some cases much more.Democrats have demanded the healthcare subsidies, which expire at the end of the year, be extended in exchange for ending the month-long federal government shutdown.
Republican leaders have argued the health insurance issue should be dealt with separately, and after the government reopens. Though some conservative lawmakers have expressed concerns with the subsidies ending.For those who have previously made use of the tax credits, the new costs could be a shock.Stacy Cox and her husband, who are small business owners in Utah, were paying $495 (£376) a month for health insurance.Ms Cox said that without the tax credits, their monthly premiums are estimated to rise to $2,168, a 338% increase.”It’s horrific to actually see real numbers,” she said.
If the subsidies are not extended, Ms Cox said she and her husband will cancel their health plan and buy some type of emergency insurance, which would not cover any of their routine and preventative health care costs.The back-up plan is worrying for Ms Cox, who has an autoimmune disease, and her husband, who has hereditary cardiovascular disease.”It’s horribly stressful, because what I know is that the emergency plan is not going to cover what I need,” she said.Experts say that about seven million people like Ms Cox are expected to stop buying health insurance through the marketplace if the tax credits end.
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