The government shutdown has entered its fourth week, and with open enrollment for health insurance approaching, many Americans are concerned about the cost of their coverage. The Affordable Care Act (ACA) provides subsidies to individuals and families, which can help make health insurance more affordable. However, disagreements over the ACA are a leading cause of the shutdown, and if the ACA tax credits expire, insurance brokers warn that customers should prepare for the cost of their health insurance to double.
For people like Dawn Hoefler, who has been receiving subsidies for years, the potential loss of these subsidies is a significant concern. Hoefler has a zero-premium plan and has been able to undergo surgeries and proactive doctor’s appointments without worrying about the cost. However, if the subsidies are not continued, she fears that her health care premiums will increase significantly.
Jane Ahrens, owner of Ahrens Benefits Company, has been guiding clients through the ACA subsidies for over 10 years. She notes that while the system is flawed and expensive, making a large-scale change so close to open enrollment could leave millions of Americans without insurance. Ahrens believes that the subsidies should be kept in place for now and that any changes should be made after the open enrollment period.
The open enrollment period for new health insurance customers begins on November 1, and the renewal process for current customers starts on November 16. With the government shutdown ongoing, it is unclear what the future of the ACA and its subsidies will be. For health insurance customers, it is a wait-and-see situation, and many are anxiously waiting to find out what will happen to their coverage and costs.
The subsidies provided by the ACA can be a significant help to middle-class families, with those earning between $40,000 and $110,000 per year potentially eligible. However, if the subsidies are not continued, many families may struggle to afford health insurance. Ahrens notes that the cost of health insurance is already high, and without subsidies, it could become unaffordable for many people. As the open enrollment period approaches, many Americans are holding their breath, hoping that a solution will be found to keep their health insurance affordable.