extending the enhanced subsidies under the Affordable Care Act (ACA)

I am writing to you today as a concerned constituent to urge your immediate attention and support for extending the enhanced subsidies under the Affordable Care Act (ACA). These crucial subsidies, originally enhanced by the American Rescue Plan Act and extended by the Inflation Reduction Act, are currently set to expire at the end of 2025. Allowing them to lapse would have devastating consequences for millions of American families and for the stability of our healthcare system. The enhanced ACA subsidies have been a lifeline for over 22 million Americans, making health insurance more affordable and accessible. By capping premium payments for benchmark plans at 8.5% of household income and expanding eligibility to those above 400% of the federal poverty level, these subsidies have significantly reduced out-of-pocket costs and driven record enrollment in the ACA Marketplace. If Congress fails to act, the impact will be severe. Experts predict that millions of individuals will lose their health coverage, and those who remain insured will face dramatic premium increases – an average of over 75% according to some estimates, with some individuals seeing their payments more than double. This would disproportionately affect low and middle-income families, as well as communities in states that have not expanded Medicaid. The potential for a "subsidy cliff" to return, where individuals just above the income threshold lose all financial assistance, is particularly concerning. Beyond the individual hardship, the expiration of these subsidies could destabilize the ACA marketplaces. Higher premiums are likely to cause healthier individuals to drop coverage, leading to a sicker risk pool and further premium increases for everyone. This would undermine the progress we've made in expanding coverage and could lead to a significant rise in the national uninsured rate. While I understand that budgetary considerations are always paramount, the cost of inaction – in terms of public health crises, increased emergency room visits, and the broader economic consequences of an uninsured population – far outweighs the investment required to maintain these vital subsidies. Furthermore, recent polling indicates strong bipartisan public support for extending these enhanced tax credits, demonstrating that this is an issue that resonates across the political spectrum. I implore you to prioritize the health and financial well-being of your constituents and all Americans. Please work with your colleagues on both sides of the aisle to swiftly pass legislation that extends the enhanced Affordable Care Act subsidies beyond 2025. This action will ensure continued access to affordable healthcare, prevent millions from becoming uninsured, and safeguard the stability of our healthcare system. Thank you for your time and consideration of this critical matter. I look forward to your leadership in addressing this urgent issue.