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Health Premiums Could Skyrocket for 450,000 New Jerseyans

5/14/2025

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Summary

Story summary

Over 450,000 New Jersey residents may see health insurance premiums rise significantly if federal tax credits expire.
Average premium costs could increase by 110%, costing individuals an additional $1,260 annually.
The state risks losing over $500 million in federal support, affecting 88% of Get Covered New Jersey users.
Commissioner Zimmerman calls on Congress to extend these crucial tax credits for affordable coverage.
Enrollment in Get Covered New Jersey has surged by 108% thanks to these tax credits.

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Story summary

Over 450,000 New Jersey residents may see health insurance premiums rise significantly if federal tax credits expire.
Average premium costs could increase by 110%, costing individuals an additional $1,260 annually.
The state risks losing over $500 million in federal support, affecting 88% of Get Covered New Jersey users.
Commissioner Zimmerman calls on Congress to extend these crucial tax credits for affordable coverage.
Enrollment in Get Covered New Jersey has surged by 108% thanks to these tax credits.