House passes 3-year ACA tax credit extension as Ohio premiums rise

By Farah Siddiqi

The U.S. House has passed legislation which would extend Affordable Care Act tax credits for three years, a move supporters said could prevent sharp increases in health insurance costs for millions of Americans.

Since the subsidies expired in December, higher premiums have already prompted some of the 477,000 Ohioans on Affordable Care Act plans to drop their coverage. The bill passed Thursday in a 230-196 vote, with 17 Republicans joining Democrats, including three from Ohio but its future is uncertain in the Senate.

For some Ohioans, the outcome could directly affect whether coverage remains affordable.

Justin Carter, who lives in Columbus and recently "aged out" of his parent’s insurance plan, said premium increases pushed him to make a difficult decision.

"In the last couple of months, my insurance jumped up," Carter explained. "My previous plan, I think, went up almost three times. So then, I kind of had to have this conversation with myself with, 'Hey, do you want to keep paying for the same insurance or do you kind of want to wait and see what happens?' So I ended up actually canceling my insurance."

Republican opponents said extending the subsidies is too costly. The Congressional Budget Office estimated a three-year extension would cost about $80 billion, and some GOP lawmakers want to see tighter income limits and anti-fraud measures.

Carter considers himself healthy but the risk of going without coverage still weighs on him, especially as he stays active and plays recreational sports. He added even limited insurance can provide peace of mind.

"You’re always one injury away from having, you know, crippling medical debt or anything like that peering over your shoulder, which you don’t want to have," Carter acknowledged. "Even if it’s low coverage, you know – it doesn’t cover you that much – something is better than nothing, at the end of the day."

Negotiators in the Senate said they are close to a bipartisan deal. Their version would extend the tax credits for two years, cap eligibility and require minimum monthly premiums.