Brendan Scanland
WASHINGTON, D.C. — With less than 10 days before New Yorkers start choosing health insurance for next year, Sen. Chuck Schumer, D-N.Y., is sounding the alarm — warning of skyrocketing health care premiums.
The Senate minority leader said Thursday that for many families, the only option is to pay thousands more every month. Schumer blames the potential rise in costs on Republicans and said they’re unwilling to include extensions for Affordable Care Act tax credits that millions of Americans — and New Yorkers — rely on.
Those tax credits, expanded during the pandemic, help working families, small business owners and farmers afford health insurance through ACA marketplaces. Without them, Schumer said most New Yorkers would have to pay an extra $3,000 more each year. But for people close to retirement age who haven’t yet turned 65, that number could be much higher.
“The typical couple, 55 years old who makes about $85,000 a year will pay $25,000 more in health care. That’s astounding. That’s enough to bankrupt working families, drain someone’s entire retirement savings, or force them to go without health care at all,” said Schumer. “What a horrible choice.”
Some Republicans have voiced support for extending the tax credits, but GOP leaders in Congress say it’s an issue that should be discussed after the government reopens and should not be used for leverage.
“Again — every Republican has voted repeatedly to do that very thing, to pay everyone and make all this madness stop,” said House Speaker Mike Johnson, R-La. “And the Democrats have now voted 13 times to keep the government closed.”
Most Senate Democrats continue to hold out on supporting a short-term funding bill to reopen the government because they want the tax credits included in the legislation.
