AT HEARING, WARREN SOUNDS ALARM ON RISING HEALTH INSURANCE PREMIUMS, SLAMS REPUBLICANS' "CONCEPTS OF A PLAN" FOR LOWERING HEALTH CARE COSTS

The following information was released by Massachusetts Senator Elizabeth Warren:

Warren: "Donald Trump may be absorbed on having bulldozers tear down the East Wing and put[ting] up a new ballroom, but American families are facing real cost increases."

Washington, D.C. At a hearing of the Senate Finance Committee, U.S. Senator Elizabeth Warren (D-Mass.) slammed Republicans' failure to lower health care costs for American families.

In July, President Trump and Republicans in Congress passed the 'Big, Beautiful Bill,' which rips away health coverage for 15 million people to pay for tax cuts to billionaires and giant corporations. Now, millions of Americans are learning that their health insurance premiums are going to skyrocket in 2026.

Over 24 million Americans are enrolled in ACA Marketplace coverage in 2025, and 92% receive enhanced premium tax credits (EPTCs). During the hearing, Senator Warren highlighted that failing to extend these tax credits, which expire at the end of 2025, would leave millions of people stuck paying dramatically higher health insurance premiums. Mr. Jason Levitis, Senior Fellow at the Urban Institute, confirmed to Senator Warren that families with ACA coverage will see their premiums double, on average, next year and that a 60-year-old couple making $85,000 could see their premiums jump by about $24,000.

When Senator Warren asked Mr. Levitis whether premium increases would be limited to those who receive EPTCs, Mr. Levitis clarified that everyone who pays for health insurance will face higher costs. In response to a question from Senator Warren about how much Americans would save next year if Congress extended the ACA tax credits, Mr. Levitis stated, "approximately $25 or $30 billion." Senator Warren noted that it would cost $23 billion to extend the credits next year about half the cost of the $40 billion President Trump sent to bail out the Argentine government.

Senator Warren concluded the hearing by calling on her colleagues to address the immediate crisis at hand by extending the ACA's enhanced premium tax credits: "Families are struggling right now, and they need help right now. Donald Trump may be absorbed on having bulldozers tear down the East Wing and put[ting] up a new ballroom, but American families are facing real cost increases, and it is time for Congress to respond."

Transcript: "The Rising Cost of Health Care: Considering Meaningful Solutions for All Americans."

Senate Finance Committee

November 19, 2025

Senator Elizabeth Warren: Let's face it, healthcare in America is already too expensive. We've got monthly premiums, deductibles, co-pays, coinsurance, and surprise medical bills. Healthcare costs are crushing families and health insurance next year will cost an average of $27,000 for a family of four.

Donald Trump ran for president saying he would lower costs on day one. And what has he done to help get health care costs under control? He worked with the Republicans in Congress to pass the 'Big, Beautiful Bill,' which rips away health coverage for 15 million people so that he could pay for tax cuts for billionaires and giant corporations. And this month, millions of Americans are learning that their premiums are going to skyrocket in January, all because Republicans were happy to extend tax cuts for Amazon and Jeff Bezos but not tax credits for families who are struggling to afford health care.

Democrats are ready to help solve the health care crisis that Republicans have created, but right now, Donald Trump is evidently too busy trying to coat the Oval Office in gold leaf.

Mr. Levitis, you have helped draft and implement a health insurance policy. So tell me, how much more will families with ACA coverage have to pay in premiums next year on average?

Mr. Jason Levitis: Premiums, on average, will about double.

Senator Warren: So, premiums are going to double. Can you put a dollar figure, say, for a 60 year old couple making $85,000? I think that's been one of the ones we've talked about a lot.

Mr. Levitis: Yeah, I mean, on average, the premiums will increase by about $1,000. For people who are over that cliff, like Mr. Armitage, they will, in many cases, increase much, much more, many thousands of dollars.

Senator Warren: Okay. Thousands of dollarsthe number I've seen is $24,000 in additional costs for a 60 year old couple making $85,000 a year. Is that about right?

Mr. Levitis: I would believe it.

Senator Warren: Alright, so we've got premiums skyrocketing. Trump is focused on what's really important, and that is a new ballroom for the White House.

Mr. Levitis, will everyone with ACA coverage pay higher premiums next year, or is it just a handful of people?

Mr. Levitis: It's everyone, because with the reductions to the premium tax credit coming in, some people no longer get it at all, like Mr. Armitage. For everyone else, it goes down. And then even for people who pay for health insurance on their own, it has led to a big spike in the gross premiums.

Senator Warren: Okay, and my understanding is it's not just people who have ACA coverage. 154 million Americans with employer-sponsored insurance are going to face the biggest premium increases in 15 years. Does that sound right?

Mr. Levitis: Premiums on employer coverage do continue to grow, and they are too high, and there are some new factors in play this year, like in their insurance filings, there's been a lot of talk about the tariffs and how that has increased cost for certain inputs and how that has flowed through to all insurance. So, yes, not just

Senator Warren: So it's going up for everyone. And Donald Trump says the affordability crisis is, "A complete con job." Look, these price hikes are obviously real. They're not just falling from the sky. It's a policy choice that the Republicans have made. So, let me just ask one more question.

Mr. Levitis, if we permanently extended the ACA tax credits that lower the cost of health insurance, how much money would Americans save just next year alone?

Mr. Levitis: I believe it's approximately $25 or $30 billion.

Senator Warren: Geez.

Mr. Levitis: But that's in premiums. But you would need to think about also, like, people who now have health insurance, who otherwise are going to have crushing costs. So it's, I think it's even bigger than that.

Senator Warren: So, it's even bigger than that. It will cost us about $23 billion to be able to extend this help to American families. Donald Trump could round up $40 billion for Argentina, but he can't round up about half that much for American families who are struggling to pay for health care.

Look, I think our health care system is broken. I think it's badly broken. And if the Republicans want to get serious about lowering costs and taking on corporate greed, count me in. But Republicans continuing to put forward the concepts of a plan just so they can crush the ACA, which they have tried to do 70 times already, is not going to work. Some kind of savings account that maybe rolls in a year from now. Families are struggling right now and they need help right now. Donald Trump may be absorbed on having bulldozers tear down the East Wing and put up a new ballroom but American families are facing real cost increases and it is time for Congress to respond.