White House expected to unveil new ACA framework as subsidy deadline approaches, but delays and political divisions heighten uncertainty

OKLAHOMA CITY — With the Affordable Care Act (ACA) premium tax credits set to expire next month and new reporting indicating that the White House is preparing a healthcare framework that includes a two-year extension of the subsidies along with new eligibility limits, Oklahoma Families for Affordable Healthcare (OKFAHC) is urging Congress to act quickly to protect Oklahoma families and small businesses from major premium spikes.

According to multiple reports, the White House is expected to soon unveil a proposal that would extend ACA subsidies for two years, cap eligibility at 700% of the federal poverty line, require minimum monthly premium payments, and authorize funding for cost-sharing reductions to lower outof- pocket costs. According to Politico, the plan would also allow some enrollees to receive part of their tax credit in a tax-advantaged savings account if they shift to a lower-premium plan. The emerging framework comes as congressional Republicans remain divided over how to handle the looming premium tax credit deadline.

Oklahoma Families for Affordable Healthcare (OKFAHC) is calling on Oklahoma’s congressional delegation to act quickly to protect Oklahoma families and small businesses who rely on these tax credits. “These tax credits are what keep families covered and prevent financial hardship for small businesses,” said Julie McKone, OKFAHC’s Executive Director, adding that nearly 300,000 Oklahomans depend on them to afford healthcare coverage. “Congress must ensure that Oklahomans do not face catastrophic increases in their premiums on January 1. Our communities simply cannot absorb these cost shocks.”

If the tax credits expire:

• A 40-year-old in Oklahoma City earning $31,000 would see premiums jump 200%, from $622 to $1,249 a year.

• A family of four in Tulsa earning $80,000 would see costs nearly double, from $3,119 to $6,041 a year.

• A couple in Seminole in their 60s would see premiums rise from $6,632 to over $25,000-consuming more than a quarter of their income.

• A single mom in Norman earning $50,000 would pay $3,664 a year, up from $1,782.

More on Oklahoma Families for Affordable Healthcare (OKFAHC): Oklahoma Families for Affordable Healthcare is a non-partisan organization dedicated to lowering healthcare costs, increasing transparency, and ensuring that every Oklahoman, regardless of income or location, has access to affordable, quality healthcare. Learn more at https://www.okfahc. com/