11% Increase In ObamaCare Premiums Projected For 2017

11% Increase In ObamaCare Premiums Projected For 2017

Cost of Obamacare Increases

The Kaiser Family Foundation report found premiums for popular low-cost plans under the health care law are projected to increase an average 11% in 2017.

Among the largest projected increases are: 26% in Portland; 21% in the District of Columbia; and 16% in New York City.

The study focused on the two least-expensive (and very popular) “silver” policies. It examined the impact of rising premiums on those whose income exceeds the limit to get government subsidies to defray the cost of the mandatory insurance. The income cutoff for those tax credits is $47,520 for an individual and $97,200 for a family of four.

“Several factors will influence how premiums will change in 2017, and there is reason to believe that increases will be higher than in recent years,” the report said.

The findings were based on 14 metro areas across the country.

The total increased cost of 2017 premiums will be presented later this summer as the presidential and congressional conclude.

Democratic nominee (just being realistic) Hillary Clinton wants to build on President Obama’s signature health law while Republican nominee Donald Trump wants to repeal and replace it with something functional and sustainable.

“This latest round of double-digit premium increases for consumers is just further evidence that ObamaCare has failed to make health care affordable for Americans,” Bob Salera, a National Republican Congressional Committee spokesman, said Wednesday.

“House Democrats’ continued support for ObamaCare is a slap in the face to the families who are facing rising costs as a direct result of President Obama’s failed health care law, and voters will hold them accountable in November.”

The administration claims that proposed rates are not what consumers ultimately will pay, because the increases will be paid my federal tax credits. “I think this administration believes tax revenue grows on trees, and is not taken directly from the people”.

The premium increases follow major insurers reporting significant losses, enrollment lower than hoped for, new customers being sicker than expected and other problems.

Medicare and Medicaid (the federal agencies that oversee ObamaCare), said recently that the health insurance markets are still in an early trial-and-error stage which could go on for another couple of years, or well into the next president’s term.