For Immediate Release – March 20, 2025
Get Covered Illinois Joins 18 State-Based Marketplaces Urging Congress to Extend Enhanced Premium Tax Credits
Illinoisans in some parts of the state may see 120% rise in premiums
Chicago–Get Covered Illinois joined 18 other state-based health insurance marketplaces to issue a joint letter to congressional leaders emphasizing the value to Americans of the enhanced premium tax credits set to expire at the end of this year.
The letter, coordinated by the National Academy of State Health Policy (NAHSP), urges Congress to take action to extend the credits, citing their critical role in helping Americans afford health coverage. A record 24 million Americans, nearly 466,000 of whom are Illinoisans, enrolled in healthcare plans through the marketplaces for Plan Year 2025.
“These tax credits are critical to ensuring health insurance doesn’t become unaffordable for Illinoisans,” said Get Covered Illinois’ Director Morgan Winters. “On average, Illinois residents saved $540 a month on health insurance costs last year thanks to these enhanced subsidies offered on the marketplace. Allowing these tax credits to expire will have real economic and health-related consequences for Illinois communities.”
The letter illustrates the impact on American families if these subsidies are allowed to expire, for example a family of four making $65,000 a year could see their premiums more than double. Here in Illinois, these increased costs would likely be felt greatest by older enrollees and middle-income earners. For example, a 60-year-old-couple living in Belleville could see their premium increase by $2,750 per month while a single 40-year-old living in Chicago earning $31,000 might see her premium increase by $95 a month, according to an analysis by KFF.
“At a time when American families are struggling with the rising costs of groceries, housing, and childcare, we worry that Illinoisans will have no choice but to deprioritize health coverage if these subsidies aren’t extended,” said Director Winters. “As the letter indicates, there is a direct correlation between the increase in the number of insured Americans and overall improvements in our healthcare system.”
The signees urge Congress to act quickly as insurers are in the process of developing next year’s plans, and uncertainty around the extension of these credits could lead to premium hikes, resulting in unnecessary costs for consumers and taxpayers.
An excerpt from the letter reads:
“Premium tax credits remain the simplest and most effective way to support households in need of insurance coverage. Thanks to the updated premium tax credit structure, our consumers will save, on average, an additional $50-$194 per month this year. This modest but significant adjustment lowers premium payments to more affordable levels, and we have heard countless stories from consumers—your constituents—struggling with inflation and appreciative of the needed cost relief. The added savings have enabled these families to focus on priorities like housing payments, groceries, childcare, tuition, and investments in retirement or their businesses without sacrificing their health coverage. Moreover, these tax credits have a demonstrated return on investment for our communities. As more Americans access health insurance, uninsured rates have declined, easing the strain of uncompensated care on hospitals and health centers and improving access to essential services that prevent serious illnesses and help manage chronic diseases.”
The full letter and the listed signees can be accessed here.
258**25
