As the federal shutdown continues, at the center of the stalemate is a debate over enhanced Affordable Care Act subsidies that would help lower monthly insurance costs for people who get coverage on the marketplace. The enhanced premium tax credit is set to expire at the end of the year, a worry for those preparing for the Affordable Care Act marketplace open enrollment on November 1. Each year, insurance advisor Janis Van Ahn hosts a webinar prior to open enrollment. “We typically have about 60 to 70 people sign up or attend,” said Van Ahn, who owns a health insurance advisory practice in the metropolitan area. But this year, Mr. Banan said. Interest has surged as the government shutdown continues and a vote has not yet taken place on extending the Affordable Care Act’s enhanced premium tax credit. “We had 132 people register for the live webinar and 103 attended,” Van Ahn said. The enhanced premium tax credit, first introduced during the 2021 pandemic and extended through 2022, increased the amount of financial assistance many Americans could receive. It also expanded eligibility to those earning more than 400% of the federal poverty level. If Congress does not act, the enhanced credits would expire at the end of 2025. Van Ahn shared an example of using the calculator through the Kaiser Family Foundation. A two-person household aged 60 and 62 with an income of $84,800 was found. That income is just over 1% above 400% of the federal poverty level for a family of two. “In 2025, you’ll be covered for $1,191, or about 66% of your premium, and you won’t get any help in 2026 either,” Van Ahn said. The nonpartisan Congressional Budget Office estimates that 2.2 million Americans will lose health insurance coverage next year when the enhanced subsidies expire. Open enrollment begins November 1, and families have until December 15 to make decisions about coverage for 2026. According to the Iowa Department of Insurance, 112,000 Iowans are enrolled in the Affordable Care Act Marketplace. Van Ahn warns that procrastination can cost people dearly. “One of the worst things you can do is wait,” she said. “By starting with your budget and reviewing your accounts within 45 days of open enrollment, we want to be able to get to where the help is needed. And more importantly, we want our government to be on top of things.”Healthcare.gov offers tools on its website for people looking for local marketplace certification help. The tool can be found here.
As the federal shutdown continues, at the center of the stalemate is a debate over enhanced Affordable Care Act subsidies that would help lower monthly insurance costs for people who get coverage on the marketplace. The enhanced premium tax credit is set to expire at the end of the year, a concern for those preparing for the Affordable Care Act marketplace open enrollment on November 1.
Annually before open enrollment, Insurance Advisor Janis Van Ahn host a webinar.
“We typically have about 60 to 70 people who sign up or show up,” said Van Ahn, who owns a health insurance advisory practice in the metropolitan area.
But this year, Mr. Banan said.
Interest has surged as the government shutdown continues and a vote has not yet taken place on extending the Affordable Care Act’s enhanced premium tax credit.
“We had 132 people registered for the live webinar and 103 attended,” Van Ahn said.
The enhanced premium tax credit, first introduced during the 2021 pandemic and extended through 2022, increased the amount of financial assistance many Americans could receive. It also expanded eligibility to those earning more than 400% of the federal poverty level. If Congress does not act, the enhanced credits would expire at the end of 2025.
Banan shared an example of using a calculator through the Kaiser Family Foundation. A two-person household aged 60 and 62 with an income of $84,800 was found. That income is 1% above 400% of the federal poverty level for a family of two.
“In 2025, they will have $1,191 covered, which is about 66% of their premium. In 2026, they will also get no help,” Van Ahn said.
The nonpartisan Congressional Budget Office estimates that 2.2 million Americans will lose their health insurance coverage next year when the enhanced subsidies expire.
Open enrollment begins November 1, and families must make a decision by December 15 to receive coverage for 2026.
According to the Iowa Department of Insurance, 112,000 Iowans are enrolled in the Affordable Care Act Marketplace.
Van Ahn warns that delaying could cost people valuable coverage.
“One of the worst things you can do is wait,” she said. “We hope that reviewing the accounts within 45 days of open enrollment, starting with the budget, can help and, more importantly, help our government understand the situation.”
Healthcare.gov has tools on its website for people looking for local help that are Marketplace certified. You can find that tool here.
