Millions Could Lose Insurance Subsidies, Depending on the Election

Subsidies that help around 20 million Americans pay for health insurance could disappear after next year, depending on the outcome of November’s election.

The subsidies, which reduce the price of health insurance for people who buy their coverage in the Obamacare marketplaces, were passed as a temporary measure in 2021, then extended as part of the Inflation Reduction Act in 2022. In that time, Obamacare enrollment has nearly doubled. If Congress doesn’t extend them, the subsidies will expire at the end of 2025, and the Trump campaign and key Republicans in Congress have said they do not support the extension.

Without the subsidies, some Americans who buy their own health coverage would still get financial help from the government, but hundreds or thousands of dollars less. And families earning more than around $100,000 a year would lose access to federal assistance.

The Congressional Budget Office estimates that 3.4 million people will lose insurance if subsidies drop and prices rise.

Neither presidential candidate is talking much about health policy, but the looming subsidy expiration means the next Congress and president will have a choice with significant consequences.