LOUISVILLE, Ky. — After years as a physician, Susan Bornstein grew concerned about her patients facing high healthcare costs and limited access. This led her to establish a nonprofit aimed at helping Kentuckians navigate the complex healthcare system.
Funding for health insurance is a pressing concern, especially since nearly 100,000 people in Kentucky rely on the marketplace for coverage, according to the Centers for Medicare and Medicaid Services. Many of these individuals are small business owners or self-employed. They face an 11% increase in premium costs if changes aren’t made.
Premium tax credits and subsidies significantly lower monthly payments and out-of-pocket expenses for those using the marketplace. These credits, first introduced in 2021, were extended to 2025 through the Inflation Reduction Act. However, Bornstein warns that if they expire, it could worsen the situation for many.
“When healthy individuals leave insurance plans, the remaining pool tends to be less healthy, which can drive up costs for everyone,” Bornstein explains.
A study by the Urban Institute states that up to 18,000 Kentuckians might have to leave the marketplace if costs rise, leading to many going uninsured. The health statistics in Kentucky are already alarming, and rising costs threaten to make them worse.
Recent data indicates nearly 80% of adults in the U.S. believe Congress should continue the enhanced tax credits for marketplace insurance. This reflects a growing consensus that affordable healthcare is necessary for public safety and well-being.
By supporting initiatives like the Asclepius Initiative, we can collectively work towards a future where healthcare is more manageable for everyone. For more details, visit the Kaiser Family Foundation.
Source link
Lexington, Northern Kentucky, VOD, APP Latest Local & State Politics Stories, APP Local & State Politics, APP Health, News, Kentucky, Bowling Green, Top Stories, Louisville, APP Top Stories, Politics, APP Latest Health Stories, Julia Narvaez Munguia, Health
