Shaheen, Schumer, Wyden, Baldwin, Warner Release Report Detailing Premium Spikes, Higher Costs and Coverage Loss for Millions of Americans if Premium Tax Credits Expire This Year

(Washington, DC) – U.S. Senator Jeanne Shaheen, along with U.S. Senate Democratic Leader Chuck Schumer (D-NY) and U.S. Senators Ron Wyden (D-OR), Tammy Baldwin (D-WI) and Mark Warner (D-VA), today published the findings from a report they commissioned detailing the disastrous impacts Republican-led cuts to health care, including allowing highly-effective premium tax credits (PTCs) to expire this year, will have on Americans’ health insurance plans. The report, crafted by the Georgetown Center on Health Insurance Reforms, outlines significant premium price increases and coverage loss for millions of Americans fueled by expiring Affordable Care Act PTCs, President Trump’s tariff policies, cuts to health care in the “Big Beautiful Betrayal” and rising health care costs. The report finds that low- and middle-income Americans that are older and living in rural areas will be disproportionately affected, and that one commonly cited factor driving 2026 rate increases is the looming expiration of PTCS. Click HERE to view the full report.

“The Affordable Care Act enhanced premium tax credits have been a lifeline for tens of millions of Americans. That’s why my colleagues and I requested a report detailing just how devastating it would be if Congressional Republicans allow these tax credits to expire at the end of the year,” said Senator Shaheen. “The report didn’t mince words: the loss of these tax credits will lead to the largest premium increases in almost a decade. Pulling the rug out from under working families—especially at a time when so many are struggling to make ends meet—would be catastrophic. I’m going to continue pushing hard on my Republican colleagues to actually come to the table and get this done.”

“This report confirms what Democrats have been shouting from the rooftops for months: Republicans’ agenda jeopardizes healthcare for millions of American families and jacks up insurance premiums for millions more, all so they can give tax cuts to billionaires,” said Leader Schumer. “Democrats have tried three times just this year to pass this extension – it’s pastime for Republicans to work with Democrats to extend the ACA tax credits and reverse their disastrous attacks on Medicaid for millions of Americans.”

“Thanks to the Affordable Care Act, tens of millions of working Americans can buy their own health coverage without breaking the bank. Republicans letting the ACA tax credits expire will only increase heath care costs and worsen coverage for struggling families,” said Senator Wyden. “We stand ready to work with anyone who wants to extend these benefits, making sure that Americans can access quality, affordable health care.”

“This report makes clear what we already knew: instead of lowering costs, Donald Trump’s and Republicans’ agenda is stripping away health care from millions of Americans, jacking up the price of health care on Wisconsin’s working families, and leaving our rural hospitals out to dry. One thing is crystal clear: we need to renew these tax breaks for families so they can afford health care, and if Congress doesn’t – Republicans will own that,” said Senator Baldwin.

“This report lays it out in black and white: if Republicans do nothing and let these tax credits expire, millions will pay more or lose coverage altogether. Congress needs to act now to protect these savings and stop this completely preventable spike in health care costs,” said Senator Warner.

In a letter to the Georgetown Center on Health Insurance Reforms last month, Shaheen and her colleagues asked for answers to a series of questions about how Americans should prepare for the changes indicated by health insurer rate filings in the wake of Republican actions to make unprecedented cuts to health care coverage.

The report finds that the loss of enhanced premium tax credits will lead to the largest premium increases in almost a decade, and will disproportionately hurt Americans who are older, low- and middle-income, self-employed and living in rural areas. It also finds that one of the top cited factors driving 2026 rate increases are the expected expiration of enhanced premium tax credits, and that, as the expiration of PTCs makes coverage less affordable, insurers expect enrollment to decline significantly.

The analysis asserts that the expiration of the PTCs, coupled with health provisions in the Republican reconciliation bill, increasing medical costs and President Trump’s tariff policy creates a uniquely costly Marketplace that will undoubtedly hurt consumers and lead to large coverage losses.

Shaheen champions efforts in Congress to make health care more affordable and accessible for Granite Staters and all Americans. 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 (D-IL) to permanently extend enhanced premium tax credits for Marketplace coverage that have lowered health care costs for millions of Americans. Last week, Shaheen delivered remarks alongside her Senate colleagues about the consequences of allowing the vital tax credits to expire at the end of this year.

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