As government shutdown lingers, NC families could get hit with higher healthcare premiums

APEX, N.C. (WTVD) -- Families across the Triangle are facing another financial challenge, rising healthcare premiums.

While several factors are influencing those costs, experts say the ongoing government shutdown is not helping. On Wednesday, Nov. 5, the federal shutdown is now the longest in U.S. history,

Madana Marshall is a mom of two in Apex. She says she's been noticing her private health insurance premiums beginning to rise.

"I've noticed an increase. It's definitely going up over time," she said. "Seeing the premiums go up. Co-pay, medication costs are going up as well."

ABC News is reporting that discussions centered around healthcare tax credits are a sticking point for Republicans and Democrats in Washington.

The subsidies, for those relying on the Affordable Care Act for insurance, end on December 31 if Congress does not act.

UNC Kenan Institute Chief Economist Gerald Cohen says families in the triangle are, unfortunately, no strangers to the increased premiums.

"People are talking about double or triple premiums at points," he says.

Cohen says many families will have to start making decisions about their spending, which could have a greater impact on the economy overall.

"That means that people will stop spending, and that actually could lead to more weakness in the economy," he said. "If somebody has to pay a higher premium for their healthcare every month, then that's less money in their pocket to go to a restaurant, or go buy their kids Christmas toys."

Marshall says she's already dialing back her spending on certain food items and cutting back on recreational activities.

"It shouldn't be a trade-off," she said. "All of those things add up when you're trying to budget and make sure that you have enough money to cover your needs every month."

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