People in the Chicago area and across the country are bracing for what that could mean for their budgets. Rising costs could force some to make tough choices with big risks.
Congress left Washington for the rest of the year without extending Obamacare subsidies.
Facing premiums that will double January 1, some small Chicago businesses owners doubt they can stay in business.
Volumes Book Cafe has been open for 10 years, with the last three being in Wicker Park. As former school teachers who love books, Kimberly George and her sister Rebecca George own the small bookstore together.
"Most of the kids just know us as the bookstore ladies, and they see us on the streets," Rebecca George said. "So this was kind of our dream. We hope to do this forever. Unfortunately, that's not the case."
Rebecca George says she and her sister are closing their store February 1. Since a Barnes & Nobl moved in down the street, she says business has gone down by 30%. On top of it, she says their healthcare premiums are going to more than double January 1.
"We were barely affording it to begin with. And you go from, you know, three $400 a month, to 800 to $1,000 a month. Forget it," Rebecca George said.
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Like millions of Americans, the sisters are insured through the Affordable Care Act, known as Obamacare. Congress had been in a fight over extending subsidies for months. Without it, premiums for a half million people just in Illinois will more than double.
"Democrats broke America's health care system when they gave us the ACA, the unaffordable care act, fifteen years ago, they promised that premiums would come down," Republican House Speaker Mike Johnson said.
This week, Speaker Johnson refused to hold a vote before lawmakers left town for the holiday break. Some moderate Republicans are joining forces with Democrats to possibly force a vote when they return in January.
"There's talk that many Republicans would like to see them just extend it for three more years and get behind this issue," Democrat U.S. Illinois Rep. Mike Quigley said.
Congressman Quigley warns Republicans if the subsidies are not extended and health insurance becomes unaffordable, millions may go without healthcare coverage all together which he says will cost everyone more.
Rebecca George says she and her sister have health issues and they need Obamacare.
"It really, it saved me," she said. "And now with my sister being diagnosed with illness, like it's, it saved her."
When their book store closes, the George sisters say their only option is to find new jobs that provide health insurance. If not, they hope the Obamacare subsidies will be extended in January.