Working Families Slammed as COVID Subsidies End: Health Premiums May Double
By Shaun Boyd | CBS News
Republicans' sweeping measure to cut taxes and reduce spending is expected to hit the Senate floor next week.
In addition to making big changes to Medicaid, the bill also allows tax credits for those who get health insurance on the state exchange to expire.
Connect for Health Colorado says Coloradans on the exchange could see premiums increase by $3,000 a year if that happens. Approximately 80 percent of people who get insurance on the state exchange receive a federal subsidy. While credits were initially tied to income, the American Rescue Plan expanded them to everyone. In rural and mountain communities where insurance can run a family upwards of $30,000 a year, those credits have made insurance affordable for tens of thousands of Coloradans, including R...
