Governor Polis, Colorado Springs Leaders Urge Congress to Extend Health Care Tax Credits and Protect Families from Skyrocketing Costs

COLORADO SPRINGS - Today, Governor Jared Polis gathered small business owners, health care providers, and insurance experts in Colorado Springs to highlight the devastating consequences families and businesses will face if Congress fails to extend the Enhanced Premium Tax Credit (EPTC) as part of the upcoming federal funding bill. While the credits expire at the end of the year, insurers will have to set premiums and marketplace customers will be signing up for next year's plans within a matter of weeks, so Congress must act now or people across the country will be stuck with skyrocketing insurance costs in 2026.

The Governor was joined by representatives from 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 who depend on the tax credit. Each 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.

"Hardworking people in Colorado Springs and across the state cannot afford double or triple premium increases next year. 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," said Governor Jared Polis. "Congress must extend these tax credits now to ensure Colorado families and communities continue to have access to more affordable health care. The State has taken comprehensive steps to mitigate these looming increases, but responsibility falls on Republicans in control of Congress."

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

To prevent these increases, Governor Polis and Lt. Governor Dianne Primavera have taken a number of actions. In August - during the Special Session convened to address the billion-dollar state budget deficit created by congressional Republicans' passage of H.R.1 - Governor Polis worked with the legislature to pass HB25B-1006 to strengthen Colorado's reinsurance program and blunt premium hikes. In early September, Governor Polis and Lt. Governor Primavera sent a letter to Colorado's congressional delegation urging them to extend the EPTC to protect the health and financial stability of Colorado families. That same day, Governor Polis convened local leaders in Grand Junction to discuss the tax credit and its impact on local businesses, their employees, and rural communities which will see some of the highest premium increases. On September 15, Governor Polis joined a group of governors from across the country in a letter to congressional leaders underscoring the national stakes. That letter, led by Delaware Governor Matt Meyer, was co-signed by the governors of California, Connecticut, Illinois, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New Mexico, New York, North Carolina, Oregon, Rhode Island, Washington, and Wisconsin.

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