Disclaimer: This Inside South Florida segment is sponsored by Economic Security Project. All opinions and views are of the advertiser and does not reflect the same of WSFL-TV.
Health care premiums could double or even triple for millions of Americans this fall, according to Adam Ruben, Vice President of the Economic Security Project, who joined Inside South Florida to explain how the expiration of federal tax credits may impact families.
These tax credits, part of the Affordable Care Act (ACA), have helped lower premiums for working and middle-class families. However, recent congressional changes are set to end those credits, triggering what Rubin calls the “largest-ever premium increases.”
In Florida, premiums are projected to rise by 132%, with an estimated 1.5 million people potentially losing coverage entirely. A typical Miami family could see their monthly health insurance costs rise by more than $2,100, forcing many to reconsider or drop their plans.
Rubin emphasized that the situation is not irreversible. Congress can still act to extend the tax credits. Lawmakers are currently debating bipartisan solutions to prevent the price spike and keep health care accessible.
For the latest updates or to check your coverage options during open enrollment, visit HealthCare.gov.
