On Washington’s to-do list: Turkey and tax credits

Before Congress adjourns for Thanksgiving break this week, Floridians are hoping for a last-minute deal to extend the enhanced premium tax credits.

These credits make quality, comprehensive health insurance more affordable for Americans without access to employer-sponsored coverage. Eligible participants include small business owners, entrepreneurs, and independent contractors, and the coverage extends to their families as well.

Currently, more than 4.7 million Floridians rely on enhanced premium tax credits to afford private health insurance.

The tax credits are set to expire at the end of 2025 unless Congress renews the program. If they do expire, premiums will skyrocket, forcing Floridians to pay double, triple, or even more for their coverage.

Open enrollment for 2026 is already underway, and many Floridians are receiving notices that could ruin anyone’s Thanksgiving.

Nathan Boye of Orlando has already received his notice. Without the enhanced premium tax credits, his monthly bill will jump from $28 to $733 next year.

“Unless something changes, I’m going to be forced to make impossible choices,” Boye told Central Florida Public Media.

Lauren Koff of Jupiter faces a 300% increase in her premiums for 2026. She currently pays $244 per month, but her new monthly bill will be $1,026 in January.

“To see it over $1,000 was beyond shocking,” Koff said in an interview with WPTV. “I told myself we would figure it out, somehow get through this, but I still haven’t figured out what the solution is.”

Celeste Jameson of North Port has not yet renewed her health insurance for 2026. She received a notice stating that her monthly premiums will double next year from $266 to $593.

“It scares me to know or to even imagine that I could be back where I was before I purchased private insurance,” she explained to WLRN.

If Congress does not act soon, Floridians like Boye, Koff, and Jameson will face a difficult choice: sacrifice other essentials to maintain health insurance or lose coverage altogether.

The expiration of tax credits will not only impact Floridians who rely on them; the consequences will be far-reaching. Individuals without coverage will delay care, worsening their conditions and increasing overall costs. The shift of care to emergency rooms will limit access for others needing urgent treatment. Additionally, destabilization in the insurance market will spill over into employer-sponsored plans, raising costs for all insurance.