REED URGES REPUBLICANS TO PUT POLITICS ASIDE, EXTEND AFFORDABLE CARE ACT TAX CREDITS

The following information was released by Rhode Island Senator Jack Reed:

Ahead of this week's U.S. Senate vote to prevent health insurance premiums from skyrocketing for tens of millions of Americans, U.S. Senator Jack Reed (D-RI) is urging members of Congress to put politics aside and prevent massive cost increases to people's health premiums.

Ever since President Trump signed a law in July cutting nearly $1 trillion from Medicaid that will hit families, seniors, hospitals, nursing homes, and more, Senator Reed has been working to try to extend Affordable Care Act (ACA) premium tax credits and prevent roughly 24 million Americans from seeing a sudden spike in healthcare costs. Without the enhanced premium tax credits, ACA enrollees are facing average premium increases of 114 percent in 2026.

Many consumers have been delaying their health enrollment this year, partly because of the uncertainty over whether Republicans would block renewal of the ACA tax credits. Now it's crunch time for Republicans who must decide before December 15th, if they are willing to help those wanting seamless health coverage starting on January 1, 2026 (note: you can shop for health coverage on Health Source RI through January 31, 2026 for coverage that starts later).

Senator Reed and all Senate Democrats unanimously support a clean, three-year extension of the ACA premium tax credits. But there's no agreement yet from Republicans, who have offered their own last minute proposal, which would force families off their current comprehensive insurance plans and onto junk plans that leave them at real risk of falling into crippling medical debt if they develop a chronic illness.

If Senate Republicans force the expiration of enhanced premium tax credits at the end of the year it will drive up costs and Rhode Island could lose $130 million in federal support, a sum that is not easily made up with a state-subsidized plan. Meanwhile, over 40,000 Rhode Islanders would face higher health care costs and up to 13,000 could lose coverage entirely, according to estimates from HealthSource RI.

Forcing people to go without health care does not save taxpayers money and ends up increasing costs for everyone as the remaining population on insurance will be sicker on average, a condition that health care experts often refer to as a worse "risk pool." That makes it costlier for companies to insure the average policyholder. So as the Congressional Budget Office points out, the result of millions of consumers dropping their health insurance means that insurance will likely get more expensive for those who still have it.

Reed implored his colleagues not to set health care progress back and take affordable health insurance away from those who need it.

Senator Reed noted that Congress has a responsibility to help protect families and ensure they can afford a health insurance plan that meets their needs, not force them to go without coverage, which ends up costing taxpayers more in the long run as greater numbers of people without health insurance seek uncompensated care in emergency rooms.

"Working families are already struggling to get by and President Trump's tariffs are already raising the cost of living and increasing prices. If Republicans in Congress refuse to act, people in their states aren't going to be able to afford coverage. And without coverage, the sad fact is some will not survive. So I hope my Republican colleagues will listen to their constituents and act in their best interests," stated Reed.

Senator Reed delivered a floor speech on the Senate floor where he shared stories from several constituents, including:

Jeffrey from Westerly, Rhode Island wrote this to me:

"I am a retiree on a fixed income purchasing my health insurance through HealthSource RI. Today, I received a letter in the mail from the State of Rhode Island outlining the shocking details comparing my 2025 medical insurance costs with those projected for 2026.

"To give context, my current health insurance plan for my wife and I costs $1,181.86 per month, and after Advance Premium Tax Credits (APTC) of $896.58, we pay $285.28. The health insurance plan I have is projected to increase to $1,505.47 in 2026, for a 27.4% increase!! That in and of itself seems unconscionable with inflation running about 3% currently. However, the real kicker is that my tax credits are expected to expire and be $0 for 2026, which in real terms to me means that my health insurance monthly costs will skyrocket from $285.28 to $1,505.47, for a whopping increase of 428%!!!"

Nino from Wakefield, Rhode Island similarly said:

"I just got my estimated charges for healthcare in 2026 from HealthSourceRI. My cost is going up by over 300%!!!

"I can't imagine how many of the 42 million Americans with ACA healthcare exchanges will lose their healthcare if the subsidies are not reinstated!"

Leigh wrote to me, saying:

"....[M]y insurance rates will climb on the marketplace from $773 to over $1300 and will be unaffordable. Without health insurance, I will die. I live with rare diseases that pose life threatening effects on a daily basis.

"We have no spare funds for an increase in our health insurance. This administration is trying to take away the only thing that is keeping me alive. I am a productive member of society. I am a defense contractor, I am a graduate student. I am a dog mom. I am a neighbor, friend, and community advocate. I matter.

"Please fight for me. Don't stop fighting for my ability to have health insurance and stay alive. If I go more than 3 days without meds, I can end up in the ER with a stroke. I need my job to afford meds. I need health insurance to be able to work. I need a graduate degree to keep my job. I'm supposed to graduate in Dec 2025 with a masters in system engineering. I need a car to get to school to get my degree. I need meds to drive my car."

These are real people facing impossible decisions about their health care. And it's not just happening in Rhode Island. There are people like Jeffrey, Nino, and Leigh in every state. And the tough choices they are facing are entirely avoidable. This bill we are about to vote on would do just that... prevent these drastic increases in health care costs... extend the tax credits... and provide certainty to everyone shopping for health care right now.

The Senate is scheduled to vote tomorrow on the extension of ACA tax credits.