COLORADO SPRINGS ~ Colorado Springs - Governor Jared Polis held a press conference today in Colorado Springs to address the urgent need for Congress to extend the Enhanced Premium Tax Credit (EPTC) as part of the upcoming federal funding bill. The Governor was joined by small business owners, health care providers, and insurance experts who shared their concerns about the devastating consequences that families and businesses will face if the tax credit is allowed to expire.

The EPTC, which is set to expire at the end of this year, helps make health insurance more affordable for millions of Americans. However, with insurers needing to set premiums and marketplace customers signing up for next year's plans within a matter of weeks, Congress must act now to prevent people from being stuck with skyrocketing insurance costs in 2026.

Governor Polis emphasized the impact that the expiration of the EPTC would have on working families and employers in El Paso County. "Hardworking people in Colorado Springs and across the state cannot afford double or triple premium increases next year," he stated. "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."

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Representatives from various organizations such as the Colorado Division of Insurance, Office of Economic Development and International Trade, Small Business Majority, Connect for Health Colorado, 413 Consulting, and other small businesses and health care providers also spoke at the press conference. They shared how the expiration of the EPTC would increase costs, reduce coverage, and destabilize health care for working families and employers in El Paso County.

According to data from the Colorado Division of Insurance, families in El Paso County who rely on health insurance through the exchange could see premiums rise by 159% next year if Congress fails to extend the tax credit. This could result in a projected enrollment drop of 27%. Statewide, it is estimated that about 225,000 Coloradans depend on the EPTC to afford health coverage in the individual market. Without an extension, more than 75,000 individuals could lose coverage entirely, while others will face premiums that double or triple, further driving up uncompensated care costs for hospitals and providers.

Governor Polis and Lt. Governor Dianne Primavera have taken several actions to prevent these increases. In August, during a Special Session convened to address the state's billion-dollar budget deficit caused by congressional Republicans' passage of H.R.1, Governor Polis worked with the legislature to pass HB25B-1006. This legislation strengthens Colorado's reinsurance program and helps mitigate premium hikes.

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In early September, Governor Polis and Lt. Governor Primavera sent a letter to Colorado's congressional delegation urging them to extend the EPTC in order to protect the health and financial stability of Colorado families. The same day, Governor Polis met with local leaders in Grand Junction to discuss the tax credit and its impact on local businesses, their employees, and rural communities that will see some of the highest premium increases.

On September 15th, Governor Polis joined a group of governors from across the country in a letter to congressional leaders emphasizing the national importance of extending the EPTC. This letter was led by Delaware Governor Matt Meyer and co-signed by governors from California, Connecticut, Illinois, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New Mexico, New York, North Carolina Oregon Rhode Island Washington and Wisconsin.

In conclusion,Governor Polis stressed that it is crucial for Congress to act now and extend the Enhanced Premium Tax Credit in order to ensure that Colorado families and communities continue to have access to affordable health care. The State has taken comprehensive steps to mitigate looming increases but ultimately it falls on Republicans in control of Congress to take responsibility and protect the health and financial stability of Americans.

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