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US Senators Jeanne Shaheen and Tammy Baldwin are introducing the Health Care Affordability Act, which aims to make permanent the Affordable Care Act’s enhanced premium tax credits for Health Insurance Marketplace coverage. These tax credits are currently set to expire at the end of 2025, which could lead to around 20 million Americans experiencing a sudden increase in their health insurance costs, while an estimated three million could lose their health insurance altogether. The Act has received endorsement from several healthcare advocacy organizations, and similar legislation is being introduced in the House of Representatives by Congresswoman Lauren Underwood.
Health Care Affordability Act to Make ACA’s Enhanced PTCs Permanent
U.S. Senators Jeanne Shaheen and Tammy Baldwin are introducing the Health Care Affordability Act, which aims to make the Affordable Care Act’s (ACA) enhanced premium tax credits (PTCs) permanent. These tax credits, set to expire in 2025, have made health insurance more accessible and affordable for many Americans. If the PTCs expire, over 20 million Americans could face higher health insurance costs, and some may lose their insurance entirely. Representative Lauren Underwood is introducing identical legislation in the U.S. House.
Health Care Affordability Act Addresses Cost and Accessibility
Shaheen highlighted the critical role of the ACA’s enhanced PTCs in lowering health insurance costs and improving accessibility for families across the country. Baldwin emphasized her commitment to making quality healthcare affordable for all. The Health Care Affordability Act would ensure that tax credits continue to help those with income levels between 100 and 400 percent of the federal poverty level, and extend eligibility to those with income above 400 percent.
Support and Endorsements for the Health Care Affordability Act
Several U.S. Senators, including Chuck Schumer, Ron Wyden, and Amy Klobuchar have cosponsored the bill. Numerous organizations, including the American Heart Association, National Health Council, Epilepsy Foundation, and the American Lung Association, have endorsed the proposed legislation. Shaheen and Underwood have previously called on congressional leaders via a letter to act before the PTCs expire, to protect millions of Americans who rely on these tax credits for affordable healthcare.
Shaheen’s Continued Efforts for Affordable Health Insurance
Shaheen has been instrumental in efforts to lower premiums and make health insurance more affordable through legislation like the Improving Health Insurance Affordability Act. She also secured premium tax credit enhancement provisions in the American Rescue Plan and worked to extend their authorization through the Inflation Reduction Act.
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