Senator Gary Peters Advocates for Extension of ACA Tax Credits to Curb Rising Premiums

U.S. Senator Gary Peters of Michigan has advocated for the extension of Affordable Care Act (ACA) tax credits aimed at reducing health care premiums for millions across the United States. He emphasized that allowing these subsidies to expire would lead to significant premium increases, threatening coverage accessibility, especially in Michigan. Recent legislative actions have contributed to rising healthcare costs, and the expiration of these tax credits poses an added financial burden on families. Senator Peters highlighted specific examples from Michigan, where families and older couples could face dramatic jumps in monthly premiums if ACA tax credits are not extended. For instance, a Detroit family of four currently paying $980 monthly could see premiums rise to $2,700, while a 64-year-old couple in Kent County might face premiums exceeding $2,000. These increased costs do not account for out-of-pocket expenses such as deductibles. The rise in premiums has corresponded with a marked decline in ACA plan enrollment in Michigan. Data from the Centers for Medicare and Medicaid Services shows nearly 14,000 fewer Michiganders enrolled in ACA plans compared to the previous year, indicating that higher costs are leading some to forgo coverage altogether. This trend may exacerbate healthcare affordability challenges and increase overall costs. Senator Peters has been vocal in opposing legislative efforts that reduce health and food assistance programs, asserting that such measures undermine access to essential services. His continued push to extend the ACA tax credits reflects a broader debate on maintaining affordability and access in the U.S. health insurance market amid rising costs and policy changes.