Senator Shaheen Pushes to Permanently Extend ACA Premium Tax Credits

Senator Jeanne Shaheen is spearheading bipartisan legislation aimed at permanently extending the Affordable Care Act's enhanced premium tax credits, which are crucial for keeping health insurance affordable for over 20 million Americans. Without congressional action, these tax credits are set to expire at the end of the year, potentially causing health insurance premiums to increase by more than 75%, the largest hike in over a decade.

 This increase would significantly impact rural residents, older Americans, working families, and small business owners who rely heavily on these subsidies to maintain coverage. The expiration of these credits could also result in approximately four million Americans losing their health insurance entirely. In addition to premium tax credits, the legislation addresses concerns over recent Medicaid coverage losses, which have contributed to the closure of healthcare facilities in some regions, such as New Hampshire, exacerbating access challenges.

Senator Shaheen emphasizes that failing to extend these credits threatens the financial stability of families and small businesses, with potential negative consequences for local economies and broader political implications. Efforts to pass the legislation have been blocked multiple times by Republican members of Congress, highlighting ongoing partisan obstacles to health care affordability initiatives.