Millions at Risk of Losing Healthcare as ACA Tax Credits Hang in the Balance Ahead of 2025 Expiration

Virginia Beach, VA – This week, the New York Times reported that millions of everyday families in Virginia and around the country could lose affordable health care by the end of next year. 

In March 2021, Congress passed premium tax credits, making healthcare coverage through the marketplace more affordable for millions of Americans. As a result, enrollment rose significantly, at a rate of 31%. In 2025, Congress has to decide whether to make these tax credits permanent, extend them, or let them expire.

“We know that the Affordable Care Act is popular and made healthcare accessible for families across the Commonwealth,” Emily Yeatts, Campaign Director of Affordable Virginia. “With both the ACA tax credits and the GOP tax law set to expire in 2025, Congress has the opportunity to extend the tax credits by asking corporations and the 1% to pay their fair share. We all benefit when everyone has access to affordable, quality healthcare. We are urging our representatives in Congress to do what’s right and keep millions insured by extending the ACA tax credits.”

Without the Affordable Care Act (ACA) tax credits to make insurance premiums affordable, the over 400,000 Virginians who signed up for Marketplace plans in 2024 could face increased and potentially unaffordable healthcare costs. Simple check-ups and preventative care – two things the ACA required insurance companies to cover, would be left in the rearview.