GOP inflating health care costs for its own voters [View all]

By Mary Ellen Klas / Bloomberg Opinion

Unless the Trump administration and Republicans in Congress act quickly, millions of working Americans could lose access to their health insurance at the end of this year. Among the most affected will be small businesses and middle-income earners; many of whom, ironically, live in congressional districts that vote Republican.

An estimated 4.7 million small business owners and self-employed workers relied on the Affordable Care Act Marketplace to obtain health insurance in 2023, according to the latest figures from the Treasury Department. But the tax credits these businesses use to offset their health insurance costs are set to expire at the end of December; and neither the Trump White House nor Republicans in Congress are poised to do anything about it.

That will inflict real pain on millions of Americans and hand Democrats an issue they can use to bludgeon Republicans in the midterms. Health care remains one of Democrats’ few potent weapons.

The reason for the December deadline is that, in 2021, Congress raised the income levels of people who could receive the enhanced tax credits at the urging of President Joe Biden. The Inflation Reduction Act extended the subsidies until 2025. The changes came with a hefty federal price tag — estimated at $335 billion over 10 years — but they also led to record-high enrollment in the ACA Marketplaces. In 2024, more Americans had health insurance than ever before.

https://www.heraldnet.com/opinion/comment-gop-inflating-health-care-costs-for-its-own-voters/