NJ AR196

Urges Congress to renew enhanced premium tax credits for health insurance that are set to expire at the end of 2025, originally expanded under the American Rescue Plan Act of 2021 and extended through the 2022 Inflation Reduction Act

Over 500,000 New Jerseyans receive coverage through Get Covered New Jersey, with 90% of 2025 enrollees qualifying for enhanced premium tax credits and nearly half paying $10 or less per month for coverage

Without renewal, New Jersey would lose more than $500 million in federal assistance, and the average individual cost would increase by $1,260 per year, with older residents near Medicare eligibility facing average increases of $1,860 annually

Enrollment in New Jersey's health insurance marketplace has doubled since its launch due to the increased financial assistance provided by the enhanced tax credits

Directs copies of the resolution to be sent to congressional leadership and all New Jersey members of Congress