Washington, D.C. — This week, a new Consumer Coalition on ACA Enhanced Premium Tax Credits came together to urge Congress to act swiftly to prevent premiums from skyrocketing for nearly 20 million people and jeopardizing coverage for millions by making enhanced premium tax credits permanent. The Coalition supports legislation introduced by Senator Jeanne Shaheen, Senator Tammy Baldwin, and Representative Lauren Underwood that would make permanent the enhanced premium tax credits originally authorized by the American Rescue Plan and later extended by the Inflation Reduction Act. Last week, Senator Jeanne Shaheen and Representative Lauren Underwood released letters calling on Congressional leadership to make enhanced subsidies permanent at the next possible legislative opportunity. The letters were signed by 190+ Members of Congress across the House and Senate.
The Consumer Coalition on ACA Enhanced Premium Tax Credits began meeting in May 2024 to support the permanent extension of the enhanced financial assistance that makes Marketplace premiums more affordable and tax credits available to more people who buy coverage on their own. Members of the Consumer Coalition on ACA Enhanced Premium Tax Credits represent leading advocacy organizations and policy institutes, patients with cancer and chronic illnesses who rely on premium tax credits for access to care, older people and younger people who purchase coverage on their own, and who could otherwise not afford it, and people of color who face systemic barriers to accessing coverage and care.
The Consumer Coalition on ACA Enhanced Premium Tax Credits released the following statement:
“We believe that affordable health care should be a right and not a privilege. Senator Jeanne Shaheen, Senator Tammy Baldwin, and Representative Lauren Underwood are fighting for middle-class families and working to keep health care affordable for people who buy coverage on their own by calling for the immediate extension of enhanced premium tax credits.
“Nearly 20 million people are counting on these tax credits to afford their health care, with families of four saving an average of $2,400 per year. This has led to extraordinary coverage gains and reduced costs, helped push the percentage of people with health coverage to record highs, and has especially helped people who have historically lacked access to coverage: people of color, women, those who live in rural areas, people in states that have refused to expand Medicaid, and those in states with especially high health care costs.
“The Affordable Care Act is a bedrock of our health care system. Since its implementation, nearly 50 million people have relied on an ACA Marketplace plan, and as a result of the enhanced premium tax credits, more people than ever before are able to access quality, affordable coverage. We cannot go back. People deserve to be able to rely on affordable health coverage for decades to come, which is why we believe Congress should make enhanced premium tax credits permanent without delay.”
Background
Enhanced premium tax credits are lowering health care premiums for nearly 20 million people. They have contributed to the record-low uninsurance rate, led approximately 10 million more people to gain coverage, allowed millions of people to enroll in plans with lower out-of-pocket costs, and made $0 premium plans available to people who make less than 150 percent of the federal poverty level (about $22,600 for an individual and $46,800 for a family of four).
Members of the Consumer Coalition on ACA Enhanced Premium Tax Credits include American Cancer Society Cancer Action Network, Center for American Progress, Community Catalyst, Families USA, The Leadership Conference on Civil and Human Rights, National Association for the Advancement of Colored People, National Partnership for Women & Families, Protect Our Care, UnidosUS, United States of Care, and Young Invincibles.
