Millions in US face soaring health costs as Obamacare subsidies set to expire
Millions of Americans are bracing for a healthcare crisis as federal subsidies for the Affordable Care Act (ACA), commonly known as Obamacare, are set to expire on December 31st.The ACA currently provides insurance for 24 million people, but without an extension of these subsidies, premiums are expected to double or even quadruple for many.
The average monthly premium for the most popular plan has already risen by 26 percent.
For many patients who earn too much to qualify for Medicaid but can’t afford private insurance, the costs are unsustainable.
The American healthcare system, reliant on a mix of public and private insurance, is already plagued by high costs due to a lack of unified price negotiation.
With a divided Congress debating the future of the subsidies, hospitals and insurers are warning of wider economic fallout.
As the clock ticks down, patients, healthcare providers, and lawmakers face urgent questions about affordability and access. For many, the stakes couldn’t be higher.
Al Jazeera’s John Hendren reports from Santa Monica, California.
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