I’m a small business owner and my wife recently retired. Because she’s not yet eligible for Medicare, she’s facing the possibility of going 15 months without health insurance — or paying close to $50,000 in premiums and out-of-pocket costs. That’s simply not affordable for us. 

The enhanced premium tax credits under the Affordable Care Act have made our coverage possible. But with Congress letting those subsidies expire, we — along with tens of thousands of Mainers — are being pushed toward a cliff.

According to the Maine Center for Economic Policy, about 54,000 Mainers rely on these enhanced tax credits through CoverME.gov and losing them would mean an average 77% increase in premiums. In some cases, older couples could see their annual costs jump from around $7,000 to nearly $38,500. That’s a 435% spike. 

Small business owners and employees, self-employed workers and early retirees across Maine are looking at impossible choices: go without coverage, deplete our savings or go into debt to stay insured. 

Congress must act to extend and protect the ACA’s enhanced subsidies. These credits aren’t handouts; they’re lifelines that keep health insurance within reach for working Mainers who don’t have employer coverage. Letting them expire would undo years of progress and put families like mine at serious financial and medical risk. 

I appreciate the support of Maine’s congressional delegation for these tax credits, but Sen. Collins must push her Republican colleagues to put health care affordability first. If they can deliver for billionaires, why can’t they deliver for us?

John Costin
Kennebunk