Gottheimer urges action to extend ACA tax credits, warns of skyrocketing premiums for New Jersey families
PARAMUS, N.J. (Bergen County) – U.S. Congressman Josh Gottheimer (NJ-5) joined health care workers at Bergen New Bridge Medical Center on Monday to warn about the looming expiration of the Affordable Care Act (ACA) enhanced premium tax credits at the end of this year.
Gottheimer called on Senate and House leadership to reach a bipartisan agreement to fund the government and extend the ACA tax credits, stressing that government funding runs out in eight days while the credits expire in December.
“Despite what many of us demanded, the far-right refused to include an extension of the health care premium tax credits in the partisan budget they passed. As a result, these tax credits will expire at the end of the year,” Gottheimer said. “That means right here in New Jersey, more than 454,000 people who rely on the Affordable Care Act, also known as Obamacare or healthcare.gov — including 38,000 in my District alone — will see their health care premiums skyrocket beginning in January. We’re talking about 22 million families across the country.”
He added: “We must extend the ACA tax credits as a part of the budget. We must keep the government funded in a responsible, bipartisan way that doesn’t abandon our families. Yet, right now, the far-right in Congress are refusing to negotiate with us to get this done. These aren’t red issues or blue issues — they are about affordable health care for our families and children.”
New Jersey Hospital Association President and CEO Cathy Bennett joined Gottheimer and echoed his concerns. “Extending the Affordable Care Act premium tax credits is critical. Without them New Jersey families could face higher costs and lose the peace of mind that comes with knowing they can see a doctor when they need to. We’re grateful for Congressman Gottheimer’s leadership—because preserving these subsidies is about keeping our neighbors healthy and ensuring families don’t have to choose between medical care and other essentials,” she said.
According to Gottheimer’s office, if the ACA enhanced tax credits are not extended, 22 million people nationwide will see their premiums skyrocket and 4.2 million families will lose health coverage entirely. In New Jersey, more than 454,000 people — including 38,000 in the Fifth District — would face sharp premium increases, with 180,000 residents expected to lose coverage.
For example, a family of four in Bergen County with an income of $130,000 could see annual premium increases of more than $20,000 — a 114% jump that would take up nearly a third of their income, more than $1,700 a month.
