As Federal Tax Credits Expire, Get Covered NJ Anticipates Premium Increases

New Jersey health officials warn that insurance premiums could rise sharply if federal premium tax credits expire, reports NJ Spotlight News. A family of four earning less than $131,400 could pay nearly $20,000 more annually without the subsidies. Currently, these credits help half of marketplace enrollees pay $10 or less each month. More than 200,000 residents pay $1 or less. Without congressional action, the expanded credits will expire at the end of 2025.