Premiums For Popular Plans To Spike, But That May Just Translate Into Government Paying More
The Trump administration released the report with the dire news on Monday. But most consumers are eligible for federal tax credits that help pay for premiums, and the value of a credit increases as the cost of premiums for one of the exchange’s most popular plans rises.
The Wall Street Journal:
Health Premiums To Rise, Trump Administration Says
Dozens of insurers are leaving the Affordable Care Act’s federal insurance exchange, and consumers who don’t get premium help will see some rates for popular plans jump by more than 30% next year, according to a Trump administration report released Monday. The data, which come just before Wednesday’s launch of open enrollment under the ACA, is likely to add to debate over whether the Obama-era law is failing, or whether it is being sabotaged by congressional Republicans and President Donald Trump. (Armour, 10/30)
HHS Report: ObamaCare Premiums Rise Significantly
Premiums for ObamaCare plans are rising significantly in many counties across the country according to a new government report, which experts have largely attributed to actions taken by the Trump administration. According to the report from the Department of Health and Human Services, premiums are increasing for the average "benchmark" plans by about 37 percent. But tax credit subsidies are also rising, meaning more people will be able to purchase insurance at lower rates. (Weixel, 10/30)
Premiums For Popular Obamacare Plans To Soar 37% For 2018
In the annual landscape report, the Trump administration highlighted many of the negative developments that will plague Obamacare next year. In prior reports, the Obama administration focused on how the premium subsidies make Affordable Care Act policies more affordable. "This data demonstrates just how rapidly Obamacare's exchanges are deteriorating with skyrocketing premiums year after year, more than half of Americans with no more than two insurers to choose from, and the taxpayer burden exploding," said Caitlin Oakley, press secretary for the Department of Health & Human Services. (Luhby, 10/30)
The Health Insurance Exchanges Were Meant To Lower Premiums Through Competition. So What Happened This Year?
It's sign up season for the Affordable Care Act. Open enrollment starts on Wednesday. Government numbers out today show that almost half of the population live in places where they can only choose from three or fewer insurers. Not much competition, so you’d expect premiums to be high. But in other places, there’s seven, eight or even 10 insurers in the market, and premiums have still gone up considerably. Why exactly? (Khrais, 10/30)
Increased Cost Of Health Policies Will Be Offset By Subsidies For Many
It's time to start shopping for health insurance if you're one of the millions who buys it on an Affordable Care Act exchange. Open enrollment for 2018 starts Wednesday, and new numbers released by the Trump Administration show that the average cost of a benchmark policy will be about 27 percent higher next year. But that's just the headline. The details suggest there's good news for lots of people who are willing to shop around a bit for insurance. (Kodjak, 10/30)
The CT Mirror:
CT Businesses, Employees Face Hikes In Health Care Premiums
When the Affordable Care Act open enrollment period for health insurance begins on Wednesday, many individuals who buy their own policies will suffer sticker shock because of a sharp increase in premiums. But the state’s large and small businesses are girding for higher premiums to cover their workers in 2018 too. And they and their employees will face tough choices. (Radelat, 10/30)