Pandemic-Era Tax Credits Made Healthcare More Affordable, But Theyre Set to Expire [Video]

Key Takeaways

Pandemic-era tax credits have worked wonders boosting the number of insured AmericansThe Premium Tax Credits are set to expire at the end of 2025, howeverIf Congress doesn’t extend the credits beyond that deadlines, millions could be thrown yet again in the ranks of the uninsured

TUESDAY, June 18, 2024 (HealthDay News) — In a success story for Americans seeking affordable healthcare coverage, tax credits put in place during the pandemic helped millions gain health insurance, a new report found.

Trouble is, the credits are set to expire at the end of 2025, noted a research team from the nonprofit Robert Wood Johnson Foundation (RWJ).

According to RWJ’s new analysis, so-called enhanced Premium Tax Credits will reduce the number of uninsured Americans by 4 million next year, and boost enrollment in the Affordable Care Act (ACA) health insurance marketplace by 7.2 million.

The credits were put into place by Congress during the pandemic to help …