Coalition estimates insurance premiums would skyrocket for 50,000 West Virginians without enhanced tax credits

CLARKSBURG, W.Va. (WBOY) — Health insurance premiums are expected to get drastically more expensive for thousands of West Virginians due to tax credits being reduced by the One Big Beautiful Bill.

Among other things, the One Big Beautiful Bill, which was passed by Congress in July, cuts enhanced premium tax credits at the end of 2025.

According to the health care coalition Keep Americans Covered, more than 49,000 West Virginians benefitted from the tax credits and could see their health insurance premiums “skyrocket” when the credits expire at the end of the year.

The change will impact people who purchase their own private health insurance not through an employer, Medicaid or Medicare.

Keep Americans Covered estimates that a family of four in West Virginia would see their insurance premiums nearly double without the credits. Utilizing advanced tax credits will also become more risky under the new law because cost caps based on income are being removed, so people with low incomes could end up having to repay the credit amount, even if they had little or no income, according to NerdWallet.

West Virginians who purchase health care coverage from the individual health insurance marketplace can calculate an estimate of the cost increase they will see at the end of the year on the Keep Americans Covered website.

Older people and people with lower incomes will be impacted the most.

Nationwide, the group estimates that 20 million Americans will be impacted, including an estimated 5 million who will lose health insurance coverage completely.

The enhanced credits have been in place since 2021.