Affordable Care Act health insurance premiums to spike if tax credits expire
ACA health premiums set to 'skyrocket'
Get ready for a sticker shock. Some health insurance premiums are set to spike. Let's zero in on the blame game over the last 27 days between Republicans and Democrats. The central sticking point is over expiring tax credits. They run out on Dec. 31, and that's about to hit 277,000 Wisconsinites.
MILWAUKEE - Get ready for a sticker shock. Some health insurance premiums are set to spike.
Let's zero in on the blame game over the last 27 days between republicans and democrats.
The central sticking point is over expiring tax credits.
They run out on Dec. 31, and that's about to hit 277,000 Wisconsinites.
ACA insurance premiums sticker shock
Get ready for some health insurance sticker shock. Open enrollment starts in five days for the healthcare.gov marketplace. FOX6's Jason Calvi is here to look at just how much you'll more you might have to pay.
ACA health insurance premiums
What we know:
Whether you call it Obamacare or the Affordable Care Act, get ready to pay more on the healthcare.gov marketplace.
On Monday, Wisconsin’s Commissioner of Insurance released 2026 rates.
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healthcare.gov
A family of four making $130,000 a year in Waukesha County will see their silver plan premium increase more than $12,000 a year.
For a 60-year-old couple in Milwaukee County making $85,000 a year, that premium will go up $25,000 a year.
And for a 26-year-old in Racine County making 48,000 a year, the plan will go up $1,600 a year.
"It’s a damn, it’s a mess. It’s going to hurt people," said Governor Tony Evers.
Health insurance marketplace
Tax credits expiring
What we know:
In 2021, the American Rescue Act provided larger premium tax credits.
Those run out at the end of the year.
"This is the situation: we’re going to be losing healthcare for thousands and thousands and thousands of Wisconsinites, because no one is working in D.C. It sucks. It’s wrong," added Evers.
This issue is central to the government shutdown. Democrats would not approve a spending bill without an extension of those tax credits.
EKG machine
Republicans say pass the spending bill and then negotiate the healthcare tax credits.
"I would argue, open the government, let me get my people back here, let us work on some answers to the questions that are always out there about how to afford to pay for the appropriate healthcare for everybody, and we'll do just that," said Dr. Mehmet Oz from the Centers of Medicare and Medicaid Services. "But having a shut-down government is no way to answer questions."
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U.S. Capitol Building
The blame game wages on for another week.
And this upcoming weekend, open enrollment kicks off for the federal marketplace, where you'll find higher rates…for now.
This is different from the fight over SNAP, the food stamp program, what we call in Wisconsin "FoodShare."
What to know about SNAP benefits as government shutdown continues
The USDA warned SNAP benefits for November could be delayed if the government shutdown continues.
In this state, it helps 770,000 people.
Today, the governor said the state would sue the federal government on that issue.
Funding for that program runs out this week.
The Source: FOX6 spoke to lawmakers and government officials. Insurance rate information comes from Wisconsin’s Commissioner of Insurance.