Realtor Tim Krause relies on the Affordable Care Act — also known as the ACA or Obamacare — for his health insurance. But with Biden-era subsidies not renewed, Krause and millions of Americans are seeing their premiums skyrocket. More than 24 million people are enrolled in ACA plans.
“I’m paying about $640 a month right now for my plan. And I clicked the link and entered my birthday and found out that my plan was going to $1,100 a month,” Krause said.
Pre-existing condition drives urgency
With his premium nearly doubling, Krause is unsure how he’ll make up the difference. He has a pre-existing condition and says going without coverage isn’t an option.
“It’s not like I can just not have health insurance, like I will die if I don’t have health insurance,” he said.
Insurance agent sees widespread impact
Clifton Eserman, owner of Incompas Insurance, says many Floridians are experiencing similar sticker shock.
“I have about 40% of my population in my agency that will have to make a hard call on whether or not even to have health insurance this year,” Eserman said.
Florida leads in ACA enrollment
Florida has the highest ACA enrollment in the country, with 4.7 million residents signed up through the federal marketplace.
Switching plans may cut costs
Facing soaring premiums, Eserman says one way to lower costs is to switch plans—though that could mean changing doctors.
“If you have a company that has a massive national PPO, say, like Blue Cross Blue Shield, their Blue Options program, and you switch it down to a smaller HMO, that would be a significant difference in pricing structures,” he said.
Frustration turns into fear
As Krause searches for a more affordable policy, he says the experience has gone beyond frustrating.
“I don’t think frustrating is a good word for it. I think absolutely terrifying is what it is,” he said.