Average Consumer in the US Could See Higher Exchange Premiums in 2023 Without the Extension of ARPA Subsidies

On March 11, President Biden signed the American Rescue Plan Act (ARPA) of 2021. Among other provisions, ARPA temporarily increases exchange premium tax credits for individuals already eligible for assistance under the Affordable Care Act (ACA), and it extends eligibility to individuals with incomes over 400% of the federal poverty level (FPL), for 2021 and 2022. Under these provisions, approximately 18 million Americans now have access to lower-premium exchange plans–and approximately 8 million are newly eligible for lower premiums.