(NEXSTAR) — Millions of Americans who rely on Affordable Care Act insurance could see their premiums surge next year if Congress doesn’t act.
Democrats are warning that costs will skyrocket when COVID-era subsidies expire at the end of the year.
“Health care premiums are about to skyrocket,” said Rep. Hakeem Jeffries, D-N.Y.
According to the Kaiser Family Foundation, the average American using the public option could see premiums rise by 75% in 2026.
“Every family is going to feel the burden of Trumpcare in America,” Sen. Ron Wyden, D-Ore., said.
Democrats are urging Republicans to extend the subsidies to avoid the spike, and some GOP lawmakers appear open to the idea.
“I think we’ve got to take whatever steps we can to keep those premiums at some reasonable level,” said Sen. Josh Hawley, R-Mo.
Senate Majority Leader John Thune told reporters Wednesday he’s heard concern from within his caucus.
“I hope they will come to us with a suggestion, a solution, about how to address it,” Thune said.
It’s unclear whether the Trump administration supports an extension. During a contentious hearing, Health and Human Services Secretary Robert F. Kennedy Jr. sidestepped the question.
“The Democrats had two chances to make it permanent, and they didn’t,” Kennedy said.
Matthew Fiedler, a health care policy expert at the Brookings Institution, said inaction could have widespread consequences.
“Insurers are looking at this and saying, ‘Well, the people who drop coverage are probably going to be the people who use less care,’” Fiedler said. “So they’re actually increasing the premiums they charge, which means that even for people who don’t receive subsidies, they’re likely to face higher premiums next year and in the years to come.”
Instead of stomaching higher premiums, the non-partisan Congressional Budget Office predicts 4 million Americans will simply go without health coverage.
Democrats are pushing to include an extension in this month’s must-pass budget bill.
On Thursday, a small group of House Republicans also introduced a standalone bill to extend the subsidies. House Speaker Mike Johnson could not be reached for comment.