Teresa Acosta was nervously awaiting her health insurance bill, fearing a steep increase due to expiring subsidies. But when her January statement arrived, she was stunned—her monthly premium surged by 620%!
“Everyone kept saying it would double or triple, but mine shot up seven times,” said Acosta, a single mother from Dunwoody, Georgia.
At 49, Acosta received her bill just days before Christmas, leaving her with only $74 to last through the holidays. “It crushed me,” she shared, worried about affording food for her three children.
Acosta is not alone. Following the expiration of enhanced tax credits from the Affordable Care Act, around 22 million Americans now face higher health care costs. Before January, Acosta paid just $72 a month for insurance that covered her and her three children, including her youngest, a Type 1 diabetic. Now, that bill has skyrocketed to $520, taking up a quarter of her income, and forcing her family to make tough choices.
“I can’t afford basic necessities,” she lamented. Many families like hers find themselves in similar situations, with some even dropping their coverage entirely. Yet for Acosta, going without insurance isn’t an option, especially for her child’s health needs. “I’m terrified he won’t get the insulin he needs,” she said. “What if something happens to me?”
The current crisis in health insurance has sparked significant political discussions. During the last government shutdown, it became a rallying point for Democrats, culminating in recent votes aimed at extending Obamacare subsidies. Despite bipartisan support in the House, Senate Republicans recently blocked this extension.
According to a report from KFF, those who relied on enhanced tax credits are seeing their premiums rise by an average of 114%. Research from the Urban Institute even estimates that 4.8 million people might lose their insurance this year due to these hikes.
“More people are going to drop their health insurance as premiums soar,” explained Larry Levitt, a health policy expert. For Acosta, the impact is real. She closed her catering business over the summer and is now struggling to find a job that provides health benefits. Her three teens have started taking on extra jobs to help with bills, and her eldest, Andie, paused college to support the family financially.
“It breaks my heart to ask my kids to handle responsibilities that should be mine,” Acosta said, wishing they could focus on their education and friendships instead. The situation reflects a growing crisis, as families grapple with rising costs and uncertainty about health care.
For the latest updates on health care policies and their impact, visit trusted sources like KFF and Urban Institute.
