NEW YORK, Jan 21 (Reuters) - UnitedHealth Group Inc. will provide rebates to its Obamacare plan members in 2026, company CEO Stephen Hemsley said in a prepared testimony released Wednesday.

Americans face higher healthcare costs this ‌year after Congress allowed generous COVID-19-era tax credits for federally subsidized Obamacare plans to ​expire. The enhanced credits, introduced by the American Rescue Plan ‍and extended by the Inflation Reduction Act, ⁠led to about ⁠a doubling of Obamacare sign-ups, according to estimates by KFF, a health policy firm, ‌and President Donald Trump has ​said he will only support an extension that provides funds directly to shoppers.

"We will voluntarily eliminate and rebate ⁠our profits this year for ‍ACA ​coverages, as Congress continues to work toward more long-term solutions," Hemsley's prepared testimony read. "To further strengthen the stability, affordability, and ‍sustainability of these plans for consumers, we support broadening consumer choice."

Congress has stalled on extending the Obamacare tax credits, even after the close of the open enrollment period for the federally subsidized plans, leaving millions of Americans facing higher out-of-pocket ​costs. ‍On average, premium costs will increase to $1,904 in 2026 from $888 in 2025, according to KFF.

A spokesperson for UnitedHealth said ​the company is working with the Trump administration on the details of the rebates. The House's health subcommittee published the testimony ahead of a Thursday hearing where executives representing rivals Cigna Group, CVS Health and Elevance will speak.

For plan year 2026, UnitedHealthcare is offering ACA marketplace ​plans in 30 states. In a third-quarter earnings call the company said it expects its ACA enrollment to be reduced by about two-thirds. 

UnitedHealth shares increased about ‍2.5% in morning trading.