7 On Your Side's tips amid possible rise in insurance premiums, how to enroll, important deadline
NEW YORK (WABC) -- The government shutdown is finally over after a record breaking 43 days. Yet, the standoff over health care subsidies continues on Capitol Hill.
Health insurance premiums for millions of Americans could see a major price hike.
According to a new poll, if the tax credits expire an estimated 4 million more people will become uninsured and 24 million will pay more.
If you buy your own insurance on the Affordable Care Act's open marketplace, what you pay will be drastically increased.
A new poll by KFF, a nonpartisan health policy research organization, shows a much higher than expected rise.
Private insurances costs about $27,000 for a family each year and that's whether you're getting it through work or the Obamacare open market.
Enhanced credits from the federal government would ease some of that burden. If the subsidies end, low-income families will be the most affected.
The fear is that millions of people will just drop insurance all together.
The marketplace is open now.
Open enrolment started on November 1 and you have to try to lock in your plan by December 15 so that your coverage kicks in by January 1.
If you wait until the day after this deadline, you may not be covered until February.
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