Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
About 300,000 Oklahomans who rely on the Affordable Care Act (ACA) marketplace for health insurance could face premium hikes of up to 65 percent in 2026, state officials warned last week.
The projected increase stems from the scheduled expiration of enhanced federal subsidies known as Advanced Premium Tax Credits, which are set to end on December 31 unless Congress intervenes.
Why It Matters
The enhanced subsidies, introduced under the American Rescue Plan Act and extended through the Inflation Reduction Act, have helped keep monthly premiums low for marketplace users. On average, Oklahomans pay $58 per month for a benchmark silver plan.
Glen Mulready speaks to a committee meeting in Oklahoma City, Wednesday, May 10, 2017. Glen Mulready speaks to a committee meeting in Oklahoma City, Wednesday, May 10, 2017. Sue Ogrocki/AP
Without the subsidies, that figure is projected to jump to $153 per month, a 65 percent increase, according to the Oklahoma Insurance Department, which could add a significant financial burden to the average Oklahoma household.
What To Know
In a news release on March 19, Commissioner Glen Mulready of the Oklahoma Insurance Department warned that the permanent extension of $338 billion in federal aid was
300,000 Oklahomans Could See Health Insurance Costs Rise By 65%
