Older Americans Face Soaring Health Insurance Premiums as ACA Subsidies Expire
Millions of older Americans are bracing for devastating health insurance premium hikes as enhanced Affordable Care Act tax credits expire at the end of December. Angelia Hoomes, a 63-year-old grandmother in Georgia, saw her monthly premium jump from two cents to $1,300—a scenario playing out nationwide.
The looming premium increases, which could more than double on average, have become a central battleground in the government shutdown debate. For a typical 60-year-old couple earning $85,000 annually, the financial blow could reach $50,000 in some states—equivalent to taking on a second mortgage.
With open enrollment beginning November 1, the expiring subsidies leave vulnerable populations in limbo. The crisis highlights growing financial pressures on Americans nearing retirement, as Social Security and freelance incomes prove inadequate to cover basic healthcare costs.
