Millions of Florida families could soon face skyrocketing health insurance costs and potential loss of coverage as key provisions of the Affordable Care Act (ACA) are set to expire at the end of 2025. The looming expiration of enhanced premium tax credits, passed as part of the 2021 American Rescue Plan and extended through the Inflation Reduction Act, are causing many in the state to worry about the potential destabilization of health access for working families across the state.
According to health policy advocates and economists, the expiration would disproportionately impact Floridians, particularly older adults and middle-income households who rely heavily on ACA marketplace subsidies.
A 60-year-old couple in Florida earning just over $82,000 could see their annual premiums jump by more than $19,000. For a family of four making around $60,000—a common scenario for Florida's working class—their annual premiums could rise by $2,500, a 200% increase, according to recent estimates.
Florida already has one of the highest uninsured rates in the country. Experts warn that allowing the ACA subsidies to lapse could reverse gains made in coverage access since 2021.
The Congressional Budget Office (CBO) projects that as many as 5 million Americans could lose coverage without the tax credits. This year, 4.7 million Floridians enrolled in coverage, and the majority received tax credits that make health insurance more affordable.
The impacts are life-saving. For patients going through critical treatments like cancer and dialysis, to those managing long-term illness like diabetes, many report these credits make the difference for families who otherwise would have to choose between healthcare and other needs, like gas and groceries.
The issue has also become a political flashpoint, with growing pressure on Florida’s congressional delegation to support an extension of the tax credits.
Recent polling shows three in four adults (77%) say Congress should extend the enhanced tax credits for people who buy their own insurance through the ACA Marketplace.
When asked about the tax credits at a townhall, Florida Democratic U.S. Rep. Sheila Cherfilus-McCormick said, “Making sure we preserve those tax credits to actually help families is our No. 1 priority.”
With Congressional races in Florida looming in 2026, the outcome of the tax credit debate could influence the political landscape.
Congress has until the end of 2025 to extend the enhanced ACA tax credits. But, if Congress doesn’t act soon, insurers will finalize rates assuming the expiration of the tax credit for Open Enrollment starting November 1.
Florida families remain in limbo, bracing for what could be the largest health care affordability crisis in the state in over a decade.
