Lester Johnson (L), a restaurant owner in Richmond, Virginia, stands next to a sign that reads "Affordable Care Act Premiums Will Rise More Than 75%" during a news conference to call on Republicans to pass Affordable Care Act tax breaks on Capitol Hill on September 16, 2025 in Washington, DC.

Lester Johnson (L), a restaurant owner in Richmond, Virginia, stands next to a sign that reads “Affordable Care Act Premiums Will Rise More Than 75%” during a news conference to call on Republicans to pass Affordable Care Act tax breaks on Capitol Hill on September 16, 2025 in Washington, DC.

Andrew Harnik/Getty Images

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Andrew Harnik/Getty Images

Absent a holiday miracle, premium subsidies for the Affordable Care Act are set to expire at the end of this year. This will greatly increase the cost of health insurance for many who rely on the marketplace for their coverage. Today on the show, we are visited by the ghosts of Obamacare past, present and future to learn what’s next for this landmark healthcare legislation.

Related episodes: 
Is Obamacare doomed without extended subsidies?
The hidden costs of healthcare churn
How doctors helped tank universal healthcare

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.Â