If you’re shopping for health insurance right now, you may have some sticker shock.
Premiums are higher for people looking to enroll through the Affordable Care Act. That’s because some of the subsidies helping lower costs are set to expire, and this latest shutdown deal doesn’t extend that deadline.
As people are making decisions about their health insurance, those with plans through the Affordable Care Act are already seeing significantly higher costs.
ACA subsidies are set to expire at the end of the year and a vote to extend them is delayed until next month, with approval uncertain.
“This can lead to increased uninsured rates, of course, stress when it comes to decision making time,” Karl Minges, a health professor at Sacred Heart University, said.
He warns about what that may lead to.
“It can deter some people from seeking sort of the necessary medical care that can lead to delayed treatments, missed prescriptions,” he said.
About 151,000 people in Connecticut get health insurance through the ACA with about 90% benefiting from the subsidies.
Angela Mattie, a Quinnipiac University health and business professor, said the impact is big.
“Most households will face a 50% increase in their premiums, which is significant,” she said.
That’s why experts are encouraging people to consider all available plans through the ACA, including higher deductible plans.
“You’ll pay more out of pocket, but your monthly premiums will decrease,” she said.
And the state is trying to help, too, by setting up a $500 million emergency fund to address federal cutbacks. But can that money be used to address the subsides?
Governor Ned Lamont said he’s waiting for congressional action first.
“We’ve certainly told folks when it comes to rolling on the exchange, wait, because we’ll have a lot more clarity in three weeks than we have today,” he said.
State Republicans say that fund is meant for SNAP benefits and is also taking a wait-and-see approach.
“If we want to have a separate discussion about offsetting ACA subsidies, let’s do it. But arguably, from what I understand, the federal government anyway is going to have a vote on that by the second week of December,” Minority Leader Senator Stephen Harding said.
You have until Dec. 15 to enroll in plans that begin in the new year or until Jan. 15 to enroll in plans that begin Feb. 1, 2026.
