A 45-year-old in Cheyenne, Wyoming, making $65,000 (415% FPL) With enhanced tax credits: $5,525 Without enhanced tax credits: $11,129 Increase: $5,604 (101%) If premiums rise by 29% — the proposed median increase in Wyoming— and the enhanced tax credits expire, this person can expect their out-of-pocket premium payments to increase by $8,831 (160%) — from $5,525 to $14,356 annually for the same plan. Note: FPL stands for Federal Poverty Level. These scenarios all use estimated annual premium payments for an ACA Marketplace benchmark plan.
A 50-year-old couple with a 20-year-old child in Seattle, Washington, making $110,000 combined (413% FPL) With enhanced tax credits: $9,350 Without enhanced tax credits: $18,836 Increase $9,486 (101%) If premiums rise by 19% — the proposed median increase in Washington — and the enhanced tax credits expire, this family can expect their out-of-pocket premium payments to increase by $13,065 (140%) — from $9,350 to $22,415 annually for the same plan. Note: FPL stands for Federal Poverty Level. These scenarios all use estimated annual premium payments for an ACA Marketplace benchmark plan.
A 40-year-old couple in Boston, Massachusetts, making $90,000 combined (426% FPL) With enhanced tax credits: $7,650 Without enhanced tax credits: $10,715 Increase $3,065 (40%) If premiums rise by 12% — the proposed median increase in Massachusetts — and the enhanced tax credits expire, this couple can expect their out-of-pocket premium payments to increase by $4,351 (57%) — from $7,650 to $12,001 annually for the same plan. Note: FPL stands for Federal Poverty Level. These scenarios all use estimated annual premium payments for an ACA Marketplace benchmark plan.
A 60-year-old couple in Jacksonville, Florida, making $85,000 combined (402% FPL) With enhanced tax credits: $7,225 Without enhanced tax credits: $24,207 Increase $16,982 (235%) If premiums rise by 26% — the proposed median increase in Florida — and the enhanced tax credits expire, this couple can expect their out-of-pocket premium payments to increase by $23,276 (322%) — from $7,225 to $30,501 annually for the same plan. Note: FPL stands for Federal Poverty Level. These scenarios all use estimated annual premium payments for an ACA Marketplace benchmark plan.
Many people/families making above 400% FPL will experience a “double whammy” — losing all financial help available via the enhanced tax credits and paying higher premium.
They’ll have to pay the full Marketplace plan cost, which will vary by age, family size and where they live.