| NEW JERSEY — Today, Assemblyman Chris Tully and health care advocates joined Protect Our Care New Jersey to discuss a new report that shows the premium tax credits included in the American Rescue Plan have made health coverage more affordable for New Jerseyans. These premium tax credits dramatically lowered the cost of healthcare coverage for 280,108 New Jerseyans.
“Families shouldn’t be forced to choose between putting food on the table and having affordable healthcare coverage,” said State Assemblyman Chris Tully (LD-38). “The American Rescue Plan helped thousands of New Jerseyans save on their premiums, but those expanded tax credits will expire at the end of this year if Congress doesn’t take action. I hope that Congress will come together to support hardworking New Jerseyans and make the advanced premium tax credits permanent.”
The new report highlights recent studies showing that more than three million people – including 84,000 New Jerseyans – could lose their coverage if Congress fails to make these enhanced premium tax credits permanent. The American Rescue Plan saved families thousands of dollars on their premiums, but the expanded tax credits that powered those savings will expire at the end of 2022, and as a result, premiums for next year’s plans will rise dramatically for millions who buy insurance on their own. Only Congress can prevent this from happening; it’s time to extend the ACA premium tax credits to ensure that hardworking families can continue to access the health care they need.
“The American Rescue Plan helped reduce health care costs and expand coverage for New Jersey families,” said Laura Waddell, Health Care Program Director for New Jersey Citizen Action. “As a result, we saw a 20% increase in residents signing up for coverage through Get Covered NJ during open enrollment this year, a record number, who saved thousands of dollars on their premiums. If Congress fails to make these premium tax credits permanent, tens of thousands of New Jerseyans could lose their coverage and next year’s premiums will rise dramatically. It’s time for Congress to extend the premium tax credits, as well as address out-of-control prescription drug costs by allowing Medicare to negotiate prices with drugmakers, so New Jerseyans have access to the care they need.”
President Biden and the Democrats have delivered significant relief to millions of American families through the American Rescue Plan. Thanks to Biden’s leadership over 30 million Americans now have health coverage, including a record 14.5 million covered under the Affordable Care Act marketplaces. Democrats continue to work to lower insurance premiums, give Medicare the power to negotiate for lower drug prices, close the coverage gap, extend Medicare benefits, and improve care for veterans, seniors, and people with disabilities.
“I am a business owner who recently lost my insurance due to divorce. I was paying about $750 a month until I worked with New Jersey Citizen Action to help me find much more affordable medical and dental insurance during this past open enrollment,” said Patrick Hall from Hamilton, New Jersey. “Thanks to the advanced premium tax credits under the American Rescue Plan, I was able to find affordable coverage and my monthly premium is now about $160 a month. These monthly savings have been a game changer, and I hope Congress will extend these savings for hardworking New Jerseyans like me.”
You can watch the event here. |
