(UNDATED) The government shutdown may raise the price of health insurance beyond the reach of many Americans. If the government doesn’t reopen soon, tax credits that help millions afford their insurance are set to expire at the end of the year.
“We’re going to see an average of 114% increase on out-of-pocket premium costs. We’re going to see that spike up to 600% for lower-income families,” said Alex Jacquez, Chief of Policy and Advocacy at the Washington, DC-based think tank Groundwork Collaborative. “It’s going to push as many as four million Americans off their health insurance as they simply won’t be able to afford it anymore.”
Health insurance open enrollment starts on Nov. 1. Jacquez told 620 WTMJ he believes many people will experience “sticker shock” when they encounter the increased rates and as a result, cause them to drop their insurance.
The Congressional Budget Office expects around two million more Americans to become uninsured next year without the subsidies, and 3.8 million over a decade.
