Expiration of ACA Premium Tax Credits Could Raise Health Insurance Costs Nationwide
The enhanced Affordable Care Act (ACA) premium tax credits, which help millions of Americans including small business owners in Maine afford health insurance, are set to expire at the end of the month. In Maine, over 160,000 small businesses rely on these subsidies through the state marketplace, and their expiration could significantly increase health insurance costs, potentially more than doubling them for some. This change threatens to raise overall costs across the insurance market by at least 17%, as uncompensated care shifts costs to providers and insurers.