Nearly 150,000 San Diego County residents get their health insurance through Covered California, according to the agency that oversees the state’s Affordable Care Act marketplace.
If Congress does not extend the enhanced tax credits, the agency said most — about 125,000 county residents who rely on federal subsidies to keep their premiums affordable — could see their monthly costs skyrocket.
“Many of our enrollees will receive much less tax credit than they’re currently receiving and some of our enrollees will no longer be eligible for tax credits at all,” said Jessica Altman, executive director of Covered California.
In San Diego County, she said the average increase would be slightly lower than the rest of the state.
“But a 76% cost increase for your health insurance is still astronomical for most people," Altman said.
The impact will vary by region. In higher-income areas like La Jolla and Rancho Santa Fe, premiums could rise around 65%. But in South Bay cities like Chula Vista and Imperial Beach premiums could increase 98%, effectively doubling costs.
Altman said the loss of subsidies will hit lower-income enrollees hardest.
"So this is someone making $20,000, $22,000 a year or so, and small changes in costs for something that's a necessity, like health care, can have a really big impact," she said.
She estimated that about one in four enrollees could be priced out of coverage. And those who stay insured may have to make tough choices.
“People will have to choose a less generous health plan to bring that monthly cost within budget for them, and that can also have impacts for health and financial well-being," Altman said.
Open enrollment begins Nov. 1, and Altman is encouraging residents to stay informed.
“There's new news, it seems like, every day on the government shutdown and these tax credits are tied into that,” she said.“And so things could change, and it's important you be aware of that."
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