Roughly 13 million Americans could see their health insurance costs rise next year — and millions more may not have care at all — unless congressional Democrats can reach agreement over a critical portion of their long-stalled economic spending legislation.
The uncertainty loomed over lawmakers as they huddled again this week in pursuit of a wide-ranging deal that can balance the promises they made during the last election with their need to win support from Sen. Joe Manchin III (D-W.Va.), the crucial swing vote in the narrowly divided chamber.
But the problem took on new urgency on Wednesday, as Democrats grappled with the latest round of inflation data. Prices rose by more than 9 percent last month compared to a year earlier — a dour report that prompted the fiscally conscious Manchin to emphasize he would be “very, very cautious” as negotiations with party leaders continue.
The most urgent concern involves the fate of tax credits that help low- and middle-income Americans purchase health insurance annually. Unless Congress extends these subsidies, roughly 13 million people are set to see their monthly premiums spike in January, according to an estimate from Kaiser Family Foundation — in some cases by hundreds of dollars per person.