Well, the American Gov’t reopened, then broke for the holidays, but it’s supposed to be back again, Monday…now some members of Congress on both sides of the aisle attempted to extend the Affordable Care Act (ACA) subsidies into 2026, but Washington was gridlocked, so Happy New Year!
About 24 million Americans buy health insurance through the ACA marketplace, and the majority were used to receiving tax credits to lower the monthly price.
Those tax credits, also referred to as subsidies, were first introduced through former President Barack Obama's ACA in 2014. They were then expanded during Covid.
The fight to extend the subsidies became the centre of the longest government shutdown in US history, which went on for more than 40 days earlier this year.
Democrats wanted to force Republicans to extend the subsidies for an additional three years, which would cost $35bn per year. Republicans did not want the government to foot the bill for another three years of subsidies without spending cuts.
The
weeks-long shutdown - which left millions without essential government services - ended when a group of Democratic senators agreed to reopen the government, if Republicans in the Senate agreed to vote on extending the subsidies.
But that vote still hasn't happened yet, despite efforts from Democrats and four Republicans to put the issue to Congress before the subsidies expired.
More than 20 million Americans are preparing for steeper healthcare costs in the New Year because of expiring subsidies.
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The above link isn’t from an American outlet.