Millions of Americans face soaring health insurance premiums in 2026 as enhanced Obamacare subsidies expire, with some costs more than doubling.
WASHINGTON: Millions of Americans are facing a sharp rise in health insurance costs next year as major government subsidies expire.
The enhanced financial aid for the Affordable Care Act, known as Obamacare, will end in January after Republicans declined to extend it.
More than 20 million people from lower and middle-income brackets will see their premiums increase significantly in 2026.
Iowa farmer Aaron Lehman, 58, said his family’s monthly premium is set to more than double.
“My wife and I have been paying about $500. We’re anticipating to go to about $1,300 a month,” Lehman told AFP.
The hike adds political pressure on President Donald Trump, who promised to lower living costs.
Audrey Horn, a 60-year-old retiree in Nebraska, said her monthly cost will rise by $300.
“Most Americans can’t afford a bill of (an) extra 300 or whatever a month,” Horn stated.
She and her husband will use retirement savings for their first increased payment in January.
The subsidies were expanded during the Covid-19 pandemic but were temporary.
Democrats demanded their extension during a recent budget standoff, which Republicans opposed.
Republicans argued the subsidies were too expensive for taxpayers and failed to control insurance costs.
Andrea Deutsch, a Pennsylvania store owner with diabetes, said the program was life-changing.
She is resigned to paying $160 more monthly but criticised the policy change.
“It is frustrating to me that these subsidies were cut in order to make tax breaks for billionaires,” Deutsch said.
A government estimate predicts four million Americans will lose health insurance over the next decade.
Health policy expert Matt McGough warned the rollback could be far larger.
“This is the largest rollback in health coverage in US history, certainly in modern times,” McGough told AFP.
He said an additional 10 million could become uninsured due to other changes in the budget bill.
This could increase mortality and raise healthcare costs for all Americans.
Republicans still refuse to extend the subsidies but want to limit the cost surge.
The issue is key for Democrats ahead of midterm Congressional elections next year.
President Trump has suggested meeting insurance executives to discuss lowering prices.
