Two major Hispanic business groups say more than 1 million Miami-Dade residents who rely on the Affordable Care Act for health insurance will see premiums skyrocket next year unless Congress acts to extend a critical federal tax credit.
The Florida State Hispanic Chamber of Commerce and the South Florida Hispanic Chamber of Commerce sounded the alarm about the likely expiration of the “Enhanced Premium Tax Credits” at a press briefing in Doral on Tuesday morning.
The tax credits were put in place during the COVID-19 pandemic to help ACA enrollees pay for health insurance. Efforts failed last month to include it in the "Big, Beautiful Act" signed into law by President Donald Trump. The tax credits are now set to expire at the end of the year.
Without a tax credit extension, say the Hispanic business groups, health insurance premiums are expected to rise 75% on average next year. It’s up to Congress and Trump to extend it. In Florida, insurers may increase premiums between 15% and 41%.
“If Congress fails to act, families could face skyrocketing premiums, widespread coverage losses, and major disruptions to [South Florida’s] health system and workforce,” said the Hispanic groups in a joint statement on Tuesday.
Julio Fuentes, President and CEO of the Florida State Hispanic Chamber of Commerce told WLRN that he expects many of those enrolled in ACA to go uninsured because premiums will be unaffordable.
"We're asking Congress to extend this tax credit so that true Americans who are doing things by the book by working and contributing to the economy could continue to grow their business and do the right thing," he said.
Marquis Moore, a Miami contractor, said he doesn’t even want to think about paying hundreds of dollars more a month for his health insurance. He’s currently paying roughly $30 monthly and has been enrolled in ACA for more than a year.
“I didn't have insurance before, so this was a blessing to get it,” said Moore, who said he has pre-existing medical conditions.
“I hope Congress will make it affordable for people like me,” he told WLRN following Tuesday's press conference. “I hate to think about the other option of not having health insurance.”
Francoise Cham, a single 63-year-old mother from Miami told WLRN that she pays about $50 a month for health insurance for her and her 20-year-old daughter, who is in college.
“This is not a luxury, this is a necessity,” said Cham, who is self-employed as a logistics consultant.
Michelle Febres, an insurance broker for South Florida employers, said her clients worry about health insurance costs rising for everyone.
"When coverage disappears, we all pay — from overflowing [hospital] emergency rooms to higher premiums for all of our insurance plans," said Febres, who is vice president at National Marketing Group Services and chair-elect of the South Florida Hispanic Chamber of Commerce.
"If you buy health insurance through the individual [ACA] Marketplace, you're almost certainly paying less — often hundreds or even thousands of dollars less — because of these tax credits," she said. "Most people don't realize they're receiving them, since the funds go directly to insurance companies to reduce monthly premiums."
Febres noted that a family of four could see their health insurance premium go up 88% to $2,947 a year if the tax credits are not extended.
In Florida, those who buy health insurance through the ACA Marketplace could see premiums go up between 18% and 40%, according to the latest estimates. That may affect nearly 5 million Floridians, a state with among the highest number of ACA enrollees in the nation.
At a statewide press conference Monday, Scott Darius, executive director of Florida Voices for Health, said he is concerned how Floridians will react to the likely premium increases.
“I can only imagine the shock that Floridians will feel this November as they’re considering health insurance plans for 2026 and find out just how much they will be paying out of pocket,” said “These proposed rate increases are the realization of fears held by advocates for the last few months."
Darius is urging Floridians to sign a petition to put Medicaid expansion on the statewide ballot in November 2026.
The proposed constitutional amendment petition is organized by Florida Decides Healthcare. They need 881,000 signatures to qualify for the 2026 ballot.
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