Joseph Baldacci represents Bangor and Hermon in the Maine Senate. He is a member of the Joint Standing Committee on Health Coverage, Insurance and Financial Services Committee and has previously served as chair of the Joint Standing Committee on Health and Human Services.
We are yet again standing at the edge of a health care cliff. If President-elect Donald Trump follows through on his campaign pledges, millions of Americans are in danger of losing their health care coverage. There are more than 62,000 Mainers who count on the Affordable Care Act (ACA) for health insurance for themselves and their families. We cannot afford to jeopardize these Mainers’ healthcare. What we need to do is provide greater access to affordable healthcare. That is what is currently in place but being discussed for significant changes or even elimination.
The Inflation Reduction Act made health care premium tax credits under the ACA more generous and available to more middle-class families, lowering costs for people who purchase insurance on their own. These lower premium costs have helped take the pressure off families and given them more room to pay for other necessities like food, rent, and gas.
This year, a record number of Americans have enrolled in a health plan through the Affordable Care Act (ACA) Marketplace. In fact, ACA coverage has more than doubled in many states thanks to the efforts of President Joe Biden and Democrats in Congress who have worked to protect and expand the ACA.
However, all of this progress is under threat. The enhanced premium tax credits are set to expire at the end of 2025 unless Republicans in Congress come to the table and work with Democrats to make the savings permanent. Congressional Republicans have long been fighting to raise health care costs, from voting against these savings in the first place to now being on track to let the premium tax credits expire. Republicans appear more focused on delivering tax breaks to big corporations and the wealthiest Americans while leaving Mainers and other middle-class families across the country struggling to get by.
Losing these health insurance premium savings would be devastating to millions of Americans who may otherwise not be able to access affordable health care. As a result, tens of thousands of Mainers could once again have to choose between being able to see a doctor or keeping a roof over their heads.
The good news is premium price hikes are preventable. It is essential that Congress protects access to affordable health care coverage. If Republicans are serious about keeping costs low, keeping these premium tax credits is the first step to prove it to the American people. Congressional Democrats stand ready to extend these ACA tax credits. It is time for Republicans to get on board and protect the health care of millions of Americans.
