Georgia residents could see as much as a 40% increase in their health insurance premiums if Congress does not act to extend the Affordable Care Act’s enhanced premium tax credits, U.S. Sen. Jon Ossoff said at a press conference Thursday.
Ossoff, a Democrat, said he is urging congressional Republicans to “reverse course” on allowing the credits — which help subsidize ACA health care premiums for low-income and middle class families — to expire. Currently, families with incomes up to 400% of the federal poverty line are eligible for the credits, which comes out to $62,600 for a single-person household and $128,600 for a household of four.
Without the credits, Ossoff warned, health care costs are expected to rise dramatically, forcing families to pay more out of pocket or forgo health insurance coverage entirely.
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