ACA Premium Tax Credit Expiration Raises Costs for 275,000 Wisconsinites in 2024

The expiration of the Affordable Care Act (ACA) Enhanced Premium Tax Credits is set to significantly increase health insurance premiums for approximately 275,000 working and middle-class residents in Wisconsin starting January 1. Senate Republicans recently rejected a proposal to extend these tax credits for three years, resulting in an average doubling of premiums for 22 million Americans. This development follows ongoing legislative efforts by Senator Tammy Baldwin (D-WI), who has advocated for extending and making these tax credits permanent to prevent such premium hikes. Despite multiple attempts, including forcing a Senate vote and proposing amendments, Republican opposition has blocked these measures. The premium increases are expected to impact not only individual policyholders but also small businesses, farmers, and working families within Wisconsin. Senator Baldwin has actively engaged with constituents and state officials to raise awareness about the consequences of the tax credit expiration, emphasizing the broader effects on affordability and access to health insurance in Wisconsin.