At a recent gathering in Colorado Springs, Governor Jared Polis made an urgent plea to Congress: extend the Enhanced Premium Tax Credit (EPTC) to prevent a health care disaster. According to the Colorado Governor's Office, failing to act could lead to families and small businesses facing crippling insurance costs in 2026. The governor argued that the tax credits are crucial for keeping health care affordable, especially for small businesses and local communities that stand to suffer the most from premium surges.
With the looming year-end expiration of the EPTC, insurers are on the verge of setting next year's premium rates, while marketplace customers brace for potential hikes. Governor Polis, accompanied by insurance experts, health care providers, and business leaders, has been vocal about the predicted impacts: premiums in El Paso County could jump by as much as 159%, and statewide, more than 75,000 individuals might lose coverage, according to a report from the Colorado Division of Insurance. "Hardworking people in Colorado Springs and across the state cannot afford double or triple premium increases next year," said Governor Polis, and without Congressional action, "small business owners will be forced to go without coverage, families will pay thousands more out of pocket, and local hospitals will see uncompensated care soar, which raises costs for everyone else," as obtained by Colorado Governor's Office.
This pressing issue has already spurred action from Governor Polis and Lt. Governor Dianne Primavera, who have been working to offset the expected premium hikes. They've strengthened Colorado's reinsurance program and made a concerted effort to communicate the gravity of the situation to Congress. A joint effort with other governors culminated in a letter emphasizing the national implications of the tax credit's expiration. As Governor Polis and local leaders like those in Grand Junction testified, the fallout of inaction will be deeply felt, with rural areas particularly at risk.
