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Covered California credits and HCARF resources helped drive record 2025 enrollment; federal cliff could reduce aid in 2026
Summary
Covered California reported record enrollment for 2025 driven by enhanced federal premium tax credits and a state cost‑sharing program funded from the Healthcare Affordability Reserve Fund (HCARF). Officials warned Congress must extend enhanced federal credits to avoid major premium increases in 2026.
Covered California officials told the Assembly Budget Subcommittee No. 1 on Health that a combination of enhanced federal premium tax credits and state cost‑sharing assistance from the Healthcare Affordability Reserve Fund (HCARF) produced an all‑time high of roughly 1.98 million enrollees for the 2025 plan year.
Katie Ravel, director of policy, eligibility and research at Covered California, said enhanced federal premium tax credits under the American Rescue Plan, extended through 2025 by federal law, are estimated to provide about $2.1 billion in premium support for California enrollees for 2025. In addition, Covered California used HCARF appropriations to eliminate silver plan deductibles and reduce cost sharing for…
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