NEW YORK, Jan 21 (Reuters) - UnitedHealth Group Inc. ( UNH )

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 ( UNH ) 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 ( CI ), CVS Health ( CVS ) 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 ( UNH ) shares increased about ‍2.5% in morning

trading.