Obamacare Premiums Will Rise 25% on Average in 2017
Obamacare is expensive and it’s only going to get worse. The Obama administration released some data showing that premiums for midlevel plans will rise, on average 25% between 2016 and 2017. Apparently the premiums are rising mainly because people who signed for coverage were sicker than the insurance companies expected.
Many health insurers like Aetna and UnitedHealth left the marketplace and those that stayed had to make up their losses by increasing premiums in order to cover medical bills. The number of plans is shrinking because of the declining number of insurers participating. The total number of HealthCare.gov insurers will drop from 232 this year to 167 in 2017—that’s a loss of 28%.