Senate Rejects ACA Tax Credit Extensions, Raising Health Insurance Costs

The U.S. Senate rejected legislation aimed at extending Affordable Care Act (ACA) tax credits, resulting in anticipated higher health insurance premiums for millions, including approximately 225,000 Coloradans. The failed bills included a Democrat proposal to continue enhanced subsidies and a Republican initiative to develop new health savings accounts, with neither measure passing. The expiration of these tax credits on January 1 is expected to drive significant premium increases, potentially causing around 75,000 Coloradans to forgo coverage due to affordability issues, according to the Colorado Division of Insurance.