Latest news with #AdvancedPremiumTaxCredits
Yahoo
21-03-2025
- Health
- Yahoo
Oklahomans using ACA health insurance plans could see higher premiums, official warns
Oklahomans using health insurance through the Affordable Care Act could see rising premiums if federal subsidies aren't extended, the state's insurance commissioner warned. (Getty images) (This image cannot be republished without a Getty subscription.) OKLAHOMA CITY — Oklahoma's top insurance official warned that health insurance premiums could see 'substantial increases' next year if federal subsidies for the Affordable Care Act aren't extended. 'A permanent extension of the $338 billion in enhanced federal health insurance subsidies is looking more unlikely,' said Glen Mulready, commissioner of the Oklahoma Insurance Department, in a statement. 'While there might be other potential solutions considered by Congress this year, Oklahoma's leaders and citizens need to be prepared for the consequences of these subsidies ending with significant changes in health insurance costs anticipated.' He said the increases in premiums for the 300,000 Oklahomans who rely on the ACA Marketplace for health insurance could begin in 2026 if federal enhanced Advanced Premium Tax Credits are not extended by Dec. 31. Oklahoma's enrollment in ACA plans increased 75% because of these subsidies with many who are enrolled pay $0 monthly for coverage while the average costs for Oklahoma enrollees is $58 per month for a benchmark silver plan, the second-lowest priced plan. 'We anticipate that the average cost of a benchmark silver plan in Oklahoma will increase by approximately 65%, jumping from $58 per month to $153 per month in 2026 if the subsidies expire as scheduled,' explained Commissioner Mulready. This change is expected nationwide. The higher premium costs could lead to consumers moving to Medicaid or becoming uninsured, according to a news release. Mulready said while he hopes Congress can find a compromise to lessen the impact, the Oklahoma Insurance Department will continue monitoring the situation. 'Oklahomans and my fellow elected leaders must understand the potential impact of the expiration of these federal subsidies,' he said in a statement. Members of Oklahoma's federal delegation, Sen. Tom Cole, R-Okla., and Rep. Stephanie Bice, R-Okla., did not return requests for comment by the time of publication. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX SUPPORT: YOU MAKE OUR WORK POSSIBLE
Yahoo
20-03-2025
- Health
- Yahoo
OK Insurance Commissioner: Significant health insurance cost increases could be on the way
OKLAHOMA CITY (KFOR) — Oklahoma's Insurance Department Commissioner is warning Oklahomans enrolled in Affordable Care Act (ACA) Marketplace plans that they could soon be seeing a case of sticker shock. In a news release Wednesday, Mulready says his concerns are tied to uncertainty in Washington, D.C., over whether federal enhanced Advanced Premium Tax Credits will be extended by December. OKCPD officer who slammed Lich Vu to the ground has resigned, police say 'A permanent extension of the $338 billion in enhanced federal health insurance subsidies is looking more unlikely,' Mulready wrote, encouraging Oklahoma's leaders and citizens to be prepared for the consequences. Mulready wrote that at least 300,000 Oklahomans rely on the ACA Marketplace plans for coverage, and that enrollment spiked between 2021 and 2024. That number is more than 7% of Oklahomans who rely on the help to offset the monthly fees to keep their insurance. 'If these tax subsidies are not extended, Oklahomans are going to see such a price hike in their premiums,' said Haley Faulkenberry, Executive Director of the Oklahoma Association of Health Plans. In one example of the potential impact, Mulready says Oklahomans on the benchmark silver plan pay about $58 a month. If federal dollars aren't extended by December, Mulready says the cost could jump to $153. 'If something isn't done, I think it's going to affect generations to come on so many levels,' said Julie Repschlager, owner of Anew Dawn Counseling Services in Tulsa. Repschlager says her business currently sees around 500 clients, ranging in age from children to adults. 'There's so many disabled, elderly, and young moms,' said Repschlager when reflecting on what the tax credit change could impact. 'They can't go without help. They've got to get the help that they need.' Repschlager is worried a dramatic change could lead to a massive mental health decline for Oklahomans and believes that suicide rates and crime would spike as a result. Faulkenberry says warning signs aren't going ignored by state lawmakers. 'I think these discussions are taking place at the Oklahoma State Capitol,' said Faulkenberry. Faulkenberry praised legislative measures she believes are taking up the call to protect Oklahomans like House Bill 1161 by Rep. Mark Tedford (R-Jenks), Senate Bill 1096 by Sen. Avery Frix (R-Muskogee), and Senate Bill 1067 by Sen. Paul Rosino (R-Oklahoma City), that she says would minimize additional premium increases. Faulkenberry says the bills provide a safeguard by requiring a review of health insurance mandates before they impact affordability for Oklahomans. Faulkenberry also encouraged Oklahomans to contact their local and congressional leaders to call for action. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
26-02-2025
- Health
- Yahoo
‘It's personal for me': RI lawmakers, health care advocates share legislative priorities
PROVIDENCE, R.I. (WPRI) — As the GOP-led Congress weighs billions of dollars in cuts to Medicaid, health care advocates in Rhode Island showcased their top legislative priorities for the year ahead. Lawmakers and advocates with the Protect Our Healthcare Coalition announced their priorities at an event at the R.I. State House on Tuesday. Nina Harrison co-chairs the coalition and also serves as the policy director at the Economic Policy Institute. 'Right now in Washington, Congress is moving through a budget resolution and reconciliation process that, if successful, will cause irreparable harm for Rhode Island,' Harrison said. RELATED: Amo concerned about impacts of potential Medicaid cuts Harrison explained more than 300,000 Rhode Islanders rely on Medicaid for health care coverage. She said that includes 29,000 seniors, 39,000 people with disabilities and 87,000 children. Shamus Dorec, senior attorney and health policy analyst at RIPIN — a nonprofit group that helps Rhode Islanders navigate health care, special education, and healthy aging — also serve as a co-chair for the coalition. Dorec said one of the coalition's 'tier one' legislative priorities includes enacting the Individual Marketplace Affordability Act, sponsored by Sen. Pam Lauria and Rep. June Speakman. If passed, it would protect affordability in the state's HealthSourceRI (HSRI) individual marketplace. As of Oct. 2024, more than 46,000 individuals were enrolled in health insurance through HSRI. Dorec said more than 90% of enrollees used Advanced Premium Tax Credits (APTCs), which can be applied to make premiums more affordable. Dorec explained that if Congress doesn't act, the enhanced credits are set to sunset at the end of 2025. 'So, what does that mean? $40 million in subsidies currently coming to Rhode Islanders will go away,' Dorec said. In other words, Dorec said 88% of the households enrolled would face increased premium payments, and on average, have a monthly premium increase of 85%. 'For many people, they'll be unable to afford coverage and they'll go uninsured,' Dorec added. He said recent estimates from the Federal Congressional Budget Office show nearly a third of people currently enrolled in HSRI would 'drop off.' 'Many of those people have no other options for insurance, and those who do stay enrolled would have to take skimpier plans that offer lesser coverage, would have higher out-of-pocket costs,' Dorec said. 'We would expect to see a significant increase in people not getting the care they need when they need it.' Dorec explained Lauria and Speakman's bill would create a state-based affordability program that would replace the expiring federal financial assistance, and would not impact the general revenue. He said that would be done through a 'small, estimated 1% assessment' on other forms of health insurance in Rhode Island. 'This is personal for me,' Lauria said. The East Bay lawmaker said as a primary care nurse practitioner for the past 27 years, she remembers what life was like before and after the American Care Act (ACA) was signed into law in 2010 and how it impacted patient health outcomes. 'I remember women that couldn't get their mammograms or their pap smears, and we found their breast and uterine malignancies late, and what that meant to their health,' Lauria said. 'I have helped people make decisions about which medications they can or cannot afford, having to decide whether or not they can do and see that specialist because they can't afford it.' Speakman said the bill addresses the 'chilling effect' if the enhanced premium tax credit program ends. 'It integrates other recommendations supported by the coalition to ease costs, improve access and stabilize our workforce, creating a path toward affordable, accessible health care, despite what's happening in Washington, D.C.,' Speakman said. Michaela Carroll, a health policy associate with Rhode Island Kids Count, said House Bill 5529 would expand the state's Medicare Savings Programs by raising eligibility and eliminating the asset test to improve access and affordability for seniors and people with disabilities. Carroll also highlighted H5205 and S254 which would enact continuous coverage in Medicaid for children up until their third birthday. 'This bill will make sure that infants and toddlers under age three don't lose health care coverage due to the administrative burden and paperwork, so that they have un disrupted access to the care and support that they need to grow and develop,' Carroll said. The coalition also highlighted an ongoing issue with medical debt. In 2024, the Consumer Financial Protection Bureau (CFPB) found 15 million Americans still had medical bills on their credit reports despite changes by Equifax, Experian, and TransUnion, totaling more than $49 billion in outstanding medical bills in collections. 'For most Rhode Islanders, a health insurance card in your pocket doesn't always mean healthcare is accessible,' Dorec said. Several bills under consideration this session (H5184/S169) would aim to strengthen medical debt protections, like prohibiting property liens and wage garnishments, and additional legislation (H5235/S172) would cap interest on medical debt. More bills up for consideration (H120/S53) would enact health insurance prior authorization forms to reduce barriers to primary care-ordered services or treatments. Plus, lawmakers are also trying to regulate the use of AI in making prior authorization determinations. Alexandra Leslie (aleslie@ is a Target 12 investigative reporter covering Providence and more for 12 News. Connect with her on Twitter and on Facebook. Download the free to get breaking news and weather alerts. Watch or with the new . Follow us on social media: Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
