A recent survey exploring public opinion regarding the extension of enhanced ACA Marketplace tax credits shows strong support among Americans for the credits being extended.
A survey by the Kaiser Family Foundation found that 78 percent of those polled approve of extending the ACA credits that are set to expire this year. If the credits are not extended, those using the Marketplace for health insurance will see sizeable increases in premium payments.
As background, Congress increased tax credits for those using the ACA Marketplace in 2021 as a response to the Covid-19 pandemic. Those tax credits made health insurance more affordable but were temporary and will expire at the end of 2025.
The polling showed that a majority of Republicans, at 59 percent, support extending the tax credits. Democrats approved by 92 percent and independents by 82 percent.
The polling also uncovered that many people in the U.S. are not aware that the tax credits are expiring.
Among people who buy their own coverage (largely through the Marketplaces), about six in ten (58%) say they have heard just “a little” or “nothing at all” about the expiration of tax credits for eligible people with Marketplace coverage, according to the KFF survey.
“There is a hot debate in Washington about the looming ACA premium hikes, but our poll shows that most people in the marketplaces don’t know about them yet and are in for a shock when they learn about them in November,” KFF President and CEO Drew Altman said.
The uncertainty surrounding the ACA tax credits could affect the upcoming ACA Open Enrollment Period, set to start Nov. 1. Consumers could face large premium increases while agents will be scrambling to find clients affordable plans.
Those polled also expressed concern that keeping the tax credits in place will be a cost to taxpayers. A majority (63%) say they would be concerned about extending the enhanced tax credits if they heard that it would require significant federal spending that would largely be paid by taxpayers. This includes a large majority of Republicans (83%) and most independents (61%).
The U.S. national debt was at $37 trillion on Oct. 8 or $326,438 per taxpayer.
The poll contacted those who purchase their own insurance and found that they expect increases but may not have an idea of how large the increases will be.
Among those who buy their own insurance, about a third (35%) expect their premiums to increase “a lot” next year. A quarter (25%) expect their premiums to rise “some,” another quarter (24%) expect their premiums to increase “a little,” and the rest (15%) don’t expect any increase.
A recent KFF analysis finds that losing the tax credits would increase what Marketplace enrollees receiving financial assistance pay in premiums by an average of 114% – from $888 in 2025 to $1,904 next year.
About four in 10 (42%) Marketplace enrollees say they would go without health insurance coverage if the amount they had to pay for health insurance each month nearly doubled. Similar shares (37%) say they would continue to pay for their current health insurance, while two in 10 (22%) say they would get insurance from another source, like an employer or a spouse’s employer.
How Pandora Insurance Helps You
Pandora Insurance can help you get ready for what will be a challenging 2026 Open Enrollment. Pandora Insurance partners with the major insurers in the ACA market. This is a time to be partnered with experienced players in the market who can give you the support you need to be successful.
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