Almost 30,000 Vermonters are covered by health insurance purchased on the individual market of the state’s Affordable Care Act marketplace. Many can afford that coverage because of federal subsidies offered through the Affordable Care Act, which were then expanded during the Covid-19 pandemic.
But those enhanced subsidies are set to expire at the end of this year, and with it, those insured Vermonters stand to lose a collective $65 million if Congress does not extend those expanded tax credits soon.
“There would be the immediate and devastating impact on the families who rely on the Affordable Care Act, (and) there would be a ripple impact of higher rates with the cost shift on the rest of the insurance market,” Vermont Sen. Peter Welch said in an interview with VTDigger. “And it would c