'Not Having Health Insurance Is An Emergency': Suze Orman Urges Americans To Budget Now As ACA Subsidies Expire And Premiums Skyrocket

Core Insights - Rising health care costs are expected to significantly impact millions of Americans as temporary Affordable Care Act (ACA) subsidies are set to expire in 2026, potentially causing premiums to increase by over 75% [1][3] - Enhanced federal tax credits since 2021 have lowered premiums for ACA marketplace plans, with families saving an average of $706 annually, but this relief will end in 2026 [2][3] - The expiration of subsidies will affect various groups, including those with employer-sponsored insurance, as job changes or shifts to gig work could leave them vulnerable to higher costs [4][8] Impact of ACA Subsidies - Enhanced federal tax credits have made ACA marketplace plans more affordable, benefiting millions of middle-class families [2] - The elimination of advanced premium credits in the "Big Beautiful Bill" passed in July will lead to a significant increase in premiums for many [3] Groups Affected - Individuals facing job loss or early retirement may find ACA plans as their only option, with COBRA coverage being a costly alternative [8] - Entrepreneurs and gig workers often rely on ACA marketplace plans for health insurance due to lack of employer coverage [8] - Young adults turning 26 must secure their own coverage after aging out of their parents' plans, often through ACA options [8] Risks of Dropping Coverage - Rising premiums may tempt some individuals to drop their health insurance, but this could expose them to catastrophic medical expenses [6]