Congress must extend US bailout grants to prevent healthcare premium hikes – InsuranceNewsNet

Targeted News Service (Press Releases)

WASHINGTON, April 20 (TNSPol) — The Center for American Progress issued the following press release:

Unless Congress moves soon to extend American Rescue Plan Act (ARPA) subsidies, market enrollees will face higher health care costs next year and 3 million people will be uninsured.

A new column of the Center for American Progress argues that the budget reconciliation process is Congress’ best opportunity to keep healthcare costs low. ARPA has provided enhanced grants for market coverage for only two years: 2021 and 2022. Unless Congress takes action to extend these subsidy enhancements, self-purchasers will have to pay higher coverage premiums in 2023.

Yes Congress waits until the last minute to act,, state markets and issuers will have to scramble to adjust plan premiums and eligibility determination processes, the column warns. This could compromise a smooth open registration experience for consumers.

“It’s time to Congress to act now to expand market-enhanced subsidies,” said Nicole Rapfogel, associate researcher at CAP and co-author of the column. “Making these grants permanent would support both individual and public health.”

Read the column: “Americans will see health insurance premiums rise sharply unless Congress acts soon” by Nicole Rapfogel and Emilie Gee:

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