Now, it is up to the Senate to get on board and extend the premium tax credits for working families.
If the Senate fails to get the bill passed and onto President Biden’s desk for signature, nine million Americans will face increased health care costs and three million people could lose coverage altogether. In Ohio, a 60-year old couple with a household income of $75,000, for example, could see a monthly premium increase of $1,062, back to pre-American Rescue Plan levels. For an Ohio family of four with a household income of $120,000, that number is $349 per month.
President Biden’s American Rescue Plan helped give millions of American families peace of mind at a time when we needed it most. We cannot go backwards.This has not only helped families make ends meet during the pandemic, but it’s allowed them to access essential care for the first time in years.
Lawmakers cannot let the health care premium reductions in the American Rescue Plan expire. If they do, millions of Americans will see dramatic increases in their 2023 health insurance premiums, and many will no longer be able to afford insurance at all. But the saving grace is that this is entirely preventable. The Senate must act now to ensure families can continue to afford the health care they need.
Desiree Tims is President & CEO of Innovation Ohio who hails from Dayton, Ohio.