About Half of Adults With ACA Marketplace Coverage Are Employed by Small Businesses or Are Self-Employed and Could Face Higher Premiums Soon
A new KFF analysis estimates that 48% of adults under age 65 with individual market coverage are either employed by a small business with fewer than 25 workers, self-employed entrepreneurs, or small business owners. Because the vast majority of this coverage is purchased through the Affordable Care Act (ACA) Marketplaces, changes to the ACA, including the expiration of the enhanced premium tax credits at the end of this year, would have significant implications for what small business owners and workers spend on their health care.
If the ACA's enhanced premium tax credits expire, out-of-pocket premiums would rise by over 75% on average for the vast majority of individuals and families buying coverage on the Marketplace. Middle-income individuals and families (with household incomes over 400% of poverty) would no longer be eligible for any premium tax credits, leaving them to pay the full cost of their premiums – amid rising health care costs.
