Shaheen, Colleagues Hold Spotlight Forum Warning of ‘Catastrophic’ Consequences of ACA Tax Credit Expiration
**Senator Shaheen leads the bicameral legislation to permanently extend the soon-expiring Affordable Care Act enhanced premium tax credits that have made health care more affordable for tens of millions of Americans**
(Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH), author of bicameral legislation to permanently extend the Affordable Care Act (ACA) enhanced premium tax credits, hosted a spotlight forum on the need for Congress to extend the soon-expiring tax credits that have made health care more affordable for tens of millions of Americans. The spotlight forum, entitled “The Clock is Ticking: Why Congress Must Extend the Enhanced Premium Tax Credits” featured several Democratic Senators and four witnesses. In recent months, Shaheen has led the push for Democrats to prioritize the tax credits and has consistently called on Republicans to come to the table to find a path forward. Click HERE to watch the full forum.
In addition to Shaheen, Senators Tammy Baldwin (D-WI), Ron Wyden (D-OR), Angus King (I-ME), Amy Klobuchar (D-MN), Jeff Merkley (D-OR), Maggie Hassan (D-NH), Peter Welch (D-VT), Richard Blumenthal (D-CT), and Mazie Hirono (D-HI) spoke at the forum.
Witnesses included: Sabrina Corlette, founder and co-director of the Georgetown University Center on Health Insurance Reforms (CHIR), Jeff Baker, a small business owner from Manchester, NH, Kristin Fuhrmann-Simmons, a patient advocate from Kennebunkport, ME and Dr. Maulik Joshi, the President and CEO of Meritus Health.
Key quotes from Senator Shaheen:
- “So, there's real urgency to extending the ACA enhanced premium tax credits and doing it now. Because kicking the can down the road is going to make a real difference for working Americans. And if the tax credits are allowed to expire entirely, it means that 4 million Americans could lose their coverage, and 24 million more could see significantly higher premiums.”
- “So, without those tax credits, millions of Americans will have to make a difficult choice about what they’ll have to live without so they can afford health insurance. I think that’s unacceptable in the United States of America. So the American people should be concerned about the soaring cost of health care coverage, and we’re here to remind our colleagues across the aisle—some of whom have publicly and privately acknowledged the importance of getting this done—that the clock is ticking. Each day we wait makes the solution harder. Waiting to act will leave more Americans uninsured and it will cost patients more of their hard-earned income.”
- “It is really important, as you pointed out Jeff, to raise this issue in a way so that the American people can understand what’s happening so that they can help encourage their elected officials to address it in a way that’s good for all Americans. [...] We will keep at it here in the Democratic Caucus to try and ensure that we can extend these tax credits.”
Key quotes from witnesses:
- “Health insurers operating in the Marketplaces have proposed significant premium rate changes for plan year 2026. [...] These premium impacts will vary depending on family income, geographic location, and age. For example: A family of four earning $50,000 per year living in Nashua, New Hampshire will see their premiums jump from $9 to $186 per month, an almost 2000% increase; Two retirees in their early 60s, living in Kaukauna, Wisconsin earning $85,000 per year will see their premiums jump from $602 to $2,144 per month, or 250%; A 28-year-old living in Hillsboro, Oregon earning $25,000 per year will see their premiums jump from $8 to $97 per month, a 1113% increase. Perhaps counterintuitively, the end of the enhanced premium tax credits will also raise premiums for people who are not eligible for those tax credits,” said Sabrina Corlette, founder and co-director of the Georgetown University CHIR.
- “It is no small thing to weigh the value of your life against access to affordable care. It is an agonizing burden to know that your ability to survive depends not just on your doctors or your treatment, but on whether or not you can afford an insurance premium. The Affordable Care Act and its enhanced tax credits make survival possible for me and millions of others. More than 50,000 Mainers rely on this support. Affordable coverage is not a luxury—it is our lifeline,” said Kristin Fuhrmann-Simmons, a patient advocate from Kennebunkport, ME.
- “Small businesses are the backbone of the American economy. We bring innovation, adaptability, and local investment. But unlike large corporations, we don’t have bargaining power. We can't negotiate lower prices for materials—or healthcare. For 37 years, Image 4 has offered health insurance to our employees. Every year, I brace myself for the renewal rates. And this year was the worst yet: a 34% increase in premiums—in one year. That kind of jump is unsustainable. It puts pressure on wages,” said Jeff Baker, founder and CEO of Image 4 in Manchester, NH.
- “To a health care organization like mine, which is deeply committed to providing optimal, high-quality care, the expiration of the Enhanced Premium Tax Credits would be devastating. People who lose insurance seek care less. They will delay care and then come to the emergency department as a last resort. Ultimately, it will cost the entire health care system more and result in poorer outcomes. Everyone in our communities will face longer waiting times and diminished access to emergency services,” said Dr. Maulik Joshi, President and CEO of Meritis Health.
Shaheen is leading efforts in Congress to make health care more affordable through the preservation and extension of enhanced premium tax credits. Shaheen’s first bill introduction this Congress was her landmark Health Care Affordability Act—bicameral legislation with Senator Baldwin and U.S. Congresswoman Lauren Underwood (IL-14) to permanently extend the tax credits for Marketplace coverage that have lowered health care costs for millions of Americans.
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