SACRAMENTO, Calif. — With Congress leaving Washington for winter recess without approving a plan to extend Affordable Care Act subsidies, millions of Americans are set to see their health insurance premiums rise sharply in the new year.
Two million Californians are enrolled under California’s ACA marketplace, known as Covered California. The group anticipates at least 400,000 Californians to see their premiums skyrocket.
The enhanced premium tax credits, first expanded during the COVID-19 pandemic, are scheduled to expire at the end of the year. Without congressional action, monthly insurance costs for people who buy coverage through ACA marketplaces are expected to increase significantly…