Lucy Devine
A doctor has issued a warning to those with health insurance after reports that premiums are set to increase by a significant amount.
Dr Sherika Newman, who is a palliative care specialist and runs her own practice, Doctor in the Family, explained that her monthly premium is set to increase by a staggering amount.
Back in 2014, when the Affordable Care Act was brought in, it provided insurance coverage to millions of Americans.
However, some subsidies that were included in the act are set to expire at the end of this year, meaning that for many people, the premiums of their health insurance will skyrocket.
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Although Democrats have been pushing to extend the subsidies, Senate Republicans voted this week to block a motion to do so.
The legislation failed by a vote of 51 to 48, needing 60 votes to be passed.
“Our bill is the last train to leave the station. After this, we will not have time to try again before premiums shoot through the roof next year,” Senate Democratic Leader Chuck Schumer warned.
Dr Newman has explained that her health insurance is due to increase from $100 to $800.
She told CBS News Atlanta: “My premium is around $100 now… and it's going up to 800.
“My biggest concern is that we have millions of Americans that will become uninsured because the premiums are no longer affordable.”
Newman believes that there could be a number of different consequences to the increase, including a rise in emergency care and patients delaying treatment.
“We're going to see a rise in emergent and urgent care needs over preventative and primary care needs,” she explained.
One woman who suffers from asthma told the outlet that she's actively stocking up on inhalers for fears she may lose her coverage imminently.
Another woman, Stacy Cox, and her husband, told the BBC that they have been paying $495 for insurance, which, without their subsidies, would increase to $2,168.
“It's horrific to actually see real numbers,” she said.
Cox told the outlet that if the subsidies are not extended, they will be forced to cancel their insurance and opt for an emergency policy, which doesn't cover routine or preventative care.
This is particularly concerning for them both due to Stacy having an autoimmune disease while her husband has hereditary cardiovascular disease.
“It's horribly stressful, because what I know is that the emergency plan is not going to cover what I need,” she explained.