SENATOR MARKEY: REPUBLICANS CAN LOWER HEALTH CARE COSTS TOMORROW, OR BE RESPONSIBLE FOR MASSIVE PREMIUM INCREASES, LOST COVERAGE

The following information was released by Massachusetts Senator Edward J. Markey:

Senator Edward J. Markey (D-Mass.), top Democrat on the Health, Education, Labor, and Pensions Subcommittee on Primary Health and Retirement Security today slammed Republicans for continuing to play games with Americans' health care. Senator Markey urged support for Democrats' proposal to extend Affordable Care Act (ACA) enhanced premium tax credits for three years.

On Thursday, the Senate will vote on Democrats' cost-lowering bill that extends the tax credits to help families afford health insurance. The Senate will also vote on a Republican proposal that would replace the tax credits with a small contribution to a health savings account, but only if individuals enroll in shoddy plans with thousands of dollars higher deductibles and less coverage. Moreover, health saving accounts cannot be used to pay for the very premiums that will double because of the expiration of the tax credits.

This year, 22 million Americans, including 337,000 Bay Staters, received enhanced premium tax credits to help afford their health insurance. If not extended, these tax credits will expire in three weeks, and millions of Americans will see their premiums double or triple. Open enrollment in Massachusetts ends December 23 for coverage starting January 1, 2026. In the face of skyrocketing premiums, 10,000 people in Massachusetts have already dropped their health coverage through the Massachusetts Health Connector for 2026.

Over 10 million small businesses and their employees rely on enhanced premium tax credits to afford their insurance. If Republicans refuse to join Democrats in extending the expiring premium tax credits, 446,000 small business owners nationwide will lose these premium tax credits. As Ranking Member of the Senate Small Business Committee, Senator Markey has been leading the fight to extend the premium tax credits that families and small businesses rely on to afford their health insurance.

Below is an excerpt from Senator Markey's remarks on the Senate floor.

"At every opportunity, Republicans are looting health care from families and small businesses in order to pay for tax breaks for people who already have too much. They're robbing the American people and asking Democrats to drive the getaway car. But we refuse to be accomplices to the crime of destroying Americans' lives and livelihoods.

"The consequences are real, and they're happening right now. In the face of skyrocketing premiums, 10,000 people in Massachusetts have dropped their Affordable Care Act coverage for next year. That's already DOUBLE the number of residents who typically drop coverage each year.

"We don't know yet how many people are trading their good insurance for junk plans that have cheaper premiums but also have unaffordable deductibles. But we do know that working families will suffer while billionaires rake in the dough with great health care. "

"The cruelty of the Trump administration knows no limits. Just in time for the holidays, President Grinch is stealing medication from dad, inhalers from grandma, insulin from children, and toys right out from under the tree.

"We must vote to extend the Affordable Care Act premium tax credits. We must listen to the American people who are begging us to help lower costs. Tomorrow, we can do that for them. It's that simple. We must vote to avert this Republican health care crisis."