Shaheen Statement on Expected Largest Increase in Health Insurance Costs in 15 Years: “Congress Must Act Before It’s Too Late.”
**Shaheen leads bicameral legislation to permanently extend tax credits that have lowered health care costs for millions of American families and small business owners**
(Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH), the lead author of the Health Care Affordability Act, released the following statement on reports that U.S. health insurers are raising insurance premiums by the most in 15 years, driven by President Trump’s agenda and the looming expiration of Affordable Care Act (ACA) enhanced premium tax credits.
“The data is crystal clear: Fueled by a combination of President Trump’s tariffs, unprecedented cuts to Medicaid and the Affordable Care Act in the ‘Big Beautiful Betrayal’ and the looming expiration of highly-effective premium tax credits, the American people will soon face the biggest cost increase in their health insurance premiums since 2010. Unfortunately, this is a self-inflicted wound by the President and Republicans in Congress at a time when the cost-of-living is already too high.
“To fend off suffocating premium increases—which will hit working families in every state across the country—Congress must act before it’s too late. Failing to do so means skyrocketing health insurance costs for working families on the ACA exchanges. And it means higher prices for everyone else as millions of our neighbors, including those with chronic diseases like cancer and diabetes, struggle to pay for care and are forced to go to the ER when their conditions worsen. That’s why we should pass my legislation to extend the health care tax credits that have helped tens of millions of everyday Americans afford quality coverage.
“Democrats remain ready to work across the aisle to prevent health care costs from skyrocketing overnight. Extending these credits to make health care more affordable must be a priority in discussions in the coming weeks on government funding. We’ve offered plenty of opportunities for our Republican colleagues to come to the table in good faith, but they’ve blocked our efforts three times this Congress. For the sake of our all of our constituents, I sincerely hope they take us up on it.”
Last week, Shaheen and a group of her colleagues published the findings from a report they commissioned detailing the disastrous impacts Republican-led cuts to health care, including allowing enhanced premium tax credits to expire this year, will have on Americans’ health insurance plans. The report, crafted by the Georgetown Center on Health Insurance Reforms, outlines a 75% increase in net premiums, the largest rate change insurers have requested since 2018, the last time that policy uncertainty contributed to sharp premium 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.
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. In July, Shaheen delivered remarks alongside her Senate colleagues about the consequences of allowing the vital tax credits to expire at the end of this year.
###