SCHUMER: WITH OPEN ENROLLMENT FOR HEALTH INSURANCE STARTING TODAY, NEW YORKERS IN EVERY REGION FACE SKYROCKETING PREMIUMS BECAUSE TRUMP AND REPUBLICANS REFUSE TO EXTEND ACA TAX CREDITS AND ADDRESS THE HEALTHCARE CRISIS THEY CREATED

The following information was released by New York Senator Charles Schumer:

U.S. Senator Chuck Schumer of New York

As New York Families, Seniors, And Small Biz Owners Find Out They May Lose Healthcare Or Face Astronomical Premiums, House Republicans Have Been On Vacation For Over A Month And Trump Is Bailing Out Argentina And Building New Ballroom While Refusing To Negotiate With Dems To Fix The Healthcare Crisis

Schumer: Republicans Must Act To Address ACA Premium Crisis They Created

With open enrollment for health insurance starting today for New Yorkers and millions of Americans, U.S. Senate Minority Leader Chuck Schumer demanded Republicans return to work to negotiate to extend vital Affordable Care Act (ACA) tax credits before their expiration, which is causing premiums to double, and end the government shutdown. Because of the GOP-created healthcare crisis, millions of Americans are now seeing that they will be forced to pay thousands more every single month for healthcare. In addition, if Republicans in Congress take no action to extend the ACA tax credits, 4 million people are estimated to become uninsured.

"Open enrollment starts today, and New Yorkers are waking up to a healthcare crisis. Families are sitting at their kitchen table right now not knowing how they can afford their bills. Insurance plans that cost $300 or $400 a month suddenly cost hundreds, even thousands more, because Republicans prefer to shut the government down rather than work with Democrats to extend the ACA tax credits." said Senator Schumer. "NY House Republicans are living in a fantasy, pretending as if the issue will fix itself. But now families are seeing firsthand why you cannot continue to kick the can down the road, as millions of Americans face financial disaster. Meanwhile, Trump is focusing on ballrooms and bailouts for Argentina. Lowering healthcare costs is not a crazy demand. These devastating price hikes are entirely avoidable, but if Republicans keep stick their heads in the sand, New York families will be paying the price."

Open enrollment, which begins today, on November 1, is when Americans can log into the Affordable Care Act exchange and select their insurance plans for next year. The Trump administration has already slashed funding by 90% for federal navigators who help consumers enroll in plans, which will make it more difficult for Americans enrolling in plans to receive assistance. Now, 24 million Americans, including thousands in every corner of New York, will see steep price hikes on their plans next year because Republicans refused to extend vital ACA tax credits that keep the cost of health insurance low.

Below are real-life examples from New York of the massive price increases our families will be hit with every month in 2026 unless Republicans come to the table and work to fix the healthcare crisis they created:

Schumer explained that the ACA tax credits help working families, small business owners and employees, farmers, and self-employed Americans afford premiums for their health insurance purchased through ACA marketplaces. These tax credits were expanded during the pandemic and continue to lower the cost of health insurance, making it more affordable. States are prepared to make changes if Congress makes a deal to extend these tax credits, but if Republicans continue to refuse to address this crisis, health insurance premiums are expected to increase by hundreds, if not thousands, of dollars each month for New Yorkers who buy insurance through the NYS exchange.

Many New Yorkers have already seen their prices for next year compared to last year. A region-by-region list of examples can be found HERE.

In addition, because of Trump's healthcare cuts in his 'Big, Ugly Bill,' 450,000 New Yorkers will be forced off New York's Essential Plan, which means many will either have to look for insurance on the ACA marketplace with sky-high prices because of the expiring tax credits, or lose their health insurance entirely.

For months, Schumer has been speaking out about the need for Republicans to work with Democrats to protect Americans from skyrocketing healthcare costs, but Republicans have refused to come to the table. If Republican inaction lets ACA enhanced premium tax credits expire at the end of the year, premiums will more than double for Americans who buy health care through the ACA marketplaces. These higher costs will push 4 million people off their health coverage over the next decade, including tens of thousands of New Yorkers. According to KFF, 8 in 10 Americans say they want Congress to extend these tax credits, including nearly 60% of Republicans.

Schumer has been speaking out about the need for Republicans to work with Democrats to protect Americans from skyrocketing healthcare costs and reopen the government. Under Schumer's leadership, Senate Democrats have already forced three votes to extend these tax credits, but Senate Republicans have continued to vote against them. Republicans continue to refuse to act to stop these entirely avoidable healthcare cost increases for Americans, and House Republican leaders have not brought the House back to vote in over a month.