Rep. Malliotakis co-sponsors bill to prevent healthcare cost spike in 2026
STATEN ISLAND, N.Y. — A bipartisan group of congressional lawmakers, including local Rep. Nicole Malliotakis, have introduced new legislation that would prevent a significant jump in healthcare costs for millions of Americans in 2026.
On Tuesday, the group introduced the Bipartisan Health Insurance Affordability Act, which would extend the Affordable Care Act’s enhanced premium tax credits, which are set to expire at the end of the year, through 2027.
“What we’re trying to simply do here is put in some type of balanced stopgap measure that, number one, addresses the affordability issue that consumers are facing today with premiums increasing, as well as fix some of the abuses by insurance companies and their brokers that have led to a tremendous amount of taxpayer money being wasted in the form of subsidies,” said Malliotakis, a Republican who represents Staten Island and parts of South Brooklyn.
Without congressional action, either through this bill or other such legislation, the expiration of the enhanced premium tax credits would lead to a spike in healthcare costs and widespread loss of coverage for millions of Americans, including roughly 80,000 in Malliotakis’ district.
In addition to extending the enhanced credits, the bill includes provisions to reduce profits for pharmacy benefit managers, expand access to Health Savings Accounts and require consent and prompt notification before any modifications to an individual’s coverage.
The legislation also includes language to crack down on “fraud and waste,”with Malliotakis claiming that there have been more than six million improper enrollees and more than 11 million people who signed up and never used their insurance.
“We put together this piece of legislation that we think is a centrist approach to dealing with the problem we have today, while giving us two years to make more reforms that can drive down the cost of health insurance premiums and prescription drug costs,” said Mallotakis.