State leaders warn of coverage loss if federal tax credit enhancements expire

State officials are urging policymakers in Washington not to wait until the end of the year to act on a critical tax credit that makes health insurance more affordable for millions of people.

Congress technically has until Dec. 31 to extend pandemic-era increases to tax credits that lower health insurance premiums on the individual market. But state health exchange leaders say a bill should really be signed this month to prevent a massive spike in premiums that will likely lead people to drop their coverage.