SCHNEIDER INTRODUCES ‘KEEP HEALTHCARE AFFORDABLE ACT’ TO STOP SKYROCKETING HEALTHCARE COSTS

WASHINGTON - Rep. Brad Schneider (IL-10), a member of the House Ways and Means Committee, introduced the Keep Healthcare Affordable Act which would extend enhanced Affordable Care Act Premium Tax Credits for four years, through the end of 2029.

"Americans are suffering from an affordability crisis, and millions are on the cusp of that worsening with their health insurance costs set to spike in 2026," said Schneider. "Congress has the responsibility to act and ensure every American has access to quality, affordable healthcare from providers they know and trust, when and where they need it. The Keep Healthcare Affordable Act is a common sense, responsible solution to the approaching healthcare affordability crisis."

In 2021, Congress passed the American Rescue Plan Act, which expanded ACA premium tax credits and lowered the cost of healthcare for millions of Americans, ensuring no one paid more than 8.5% of their income for health insurance. Approximately 24 million Americans, including roughly 400,000 people in Illinois, benefit from these tax credits, which are set to expire at the end of 2025. Expiration of the tax credits will result in an average increase of 114% in premiums.

The Keep Healthcare Affordable Act will extend the enhanced ACA tax credits for individuals who purchase their health insurance through the ACA marketplace and earn less than 10 times the federal poverty level, approximately $155,000 for a one-person household or $320,000 for a four-person household in 2025.

"If Congress fails to act, millions of hardworking Americans will pay premiums that are double, even triple their current costs. In many cases, premiums will exceed what people can afford, leaving them without healthcare coverage altogether," said Schneider. "Allowing either of those options to happen is a dereliction of duty. I urge Speaker Johnson and my Republican colleagues in the House to return to Washington, engage with Democrats, and have a good faith negotiation on solutions like this legislation that will protect Americans from this manufactured affordability crisis."

Bill text is available here.

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