SALT LAKE CITY — For millions of Americans, their current healthcare plans are a bleak reality, as premiums skyrocket, leaving many to contemplate whether to abandon their coverage.
Ahead of the House’s vote to extend expired Affordable Care Act subsidies on Thursday, an economist discussed what it means for the broader picture of healthcare in the country.
The expired Affordable Care Act tax credits were keeping 22 million Americans afloat in our healthcare pool.
Some consumers are looking at as much as a 114% increase in premiums.
The risk? Four million Americans are left uninsured.
What does it look like to have a population that might be largely uninsured?
“If you’re hurt, you have something wrong, you’re going to let it go slide for a bit, but at some point, if it becomes serious, you’re going to go to the hospital,” said Gbenga Ajilore, chief economist for the Center on Budget and Policy Priorities. “At that point hospitals will take care of you, but it’s going to become expensive and they’re not going to get compensated for it, so that’s the biggest problem. Another problem is that people that are uninsured, when they get help, that puts an impact on the rest of us who do have health insurance, because what makes health insurance premiums lower or cheaper is when you have a broader pool of people who have coverage.”
Therin lies part of the problem.
For families who have someone who is sick or has a debilitating illness, not having coverage isn’t an option.
“What’s going to happen is that they have a decision to make. Do you stay on the health insurance and pay more? For some people it’s 50% more per month and it’s going to be really difficult. The question is, where does that money come from? Does it come from food? Does it come from housing? Does it come from schooling? Do you need to take a second job? Does someone need to go out into the workforce? What’s going to happen is that there’s going to be a ripple effect of other decisions that have to be made and they’re not going to be able to make up that money,” said Ajilore.
Decisions also must be made by Congress.
Utah’s Celeste Maloy’s response when FOX 13 asked her about Thursday’s vote:
“Healthcare is a separate issue we are dealing with. We have a lot of good ideas in the House. We’re ready to tee them up and vote on them. We’ve got to come up with something that can also pass the Senate.”
You have until January 15 to reenroll in the marketplace if you’re not satisfied with your plan as it stands.
Remember, there are local insurance agents who can help you navigate options that might be best for you and save you some of the expense.
Local agents will be better equipped to handle your Utah insurance questions than a national hotline number.
