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Study: Obamacare Rates Could Decrease or Jump Double-Digits

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By    |   Thursday, 10 Aug 2017 12:26 PM

Insurers are seeking double-digit premium increases in light of "uncertainty" surrounding the Affordable Care Act, according to a new, nonpartisan study.

The Kaiser Family Foundation released a healthcare study Thursday, which shows insurance premiums being proposed for mid-level or "silver" plans jumping as high as 49 percent.

"A number of insurers have requested double-digit premium increases for 2018. Based on initial filings, the change in benchmark silver premiums will likely range from -5 percent to 49 percent across these 21 major cities," the study reports, although the figures are not final.

"In the past, requested premiums have been similar, if not equal to, the rates insurers ultimately charge. This year, because of the uncertainty insurers face over whether the individual mandate will be enforced or cost-sharing subsidy payments will be made, some companies have included an additional rate increase in their initial rate requests, while other companies have said they may revise their premiums late in the process."

Although the study draws a parallel between rates rising and the debate over healthcare in Congress, President Donald Trump shares some of the blame.

"We still would have seen premium increases in many of these states even without the political uncertainty," Cynthia Cox, the study's co-author and associate director of the foundation's Program for the Study of Health Reform and Private Insurance, told The Hill. "But if the Trump administration had been more clear about what the rules were going to be for next year, we would likely have seen much smaller premium increases."

She added, "We're likely to see some insurers going back and asking for even higher premium increases from what they initially requested. And if they don't get more clarity soon from Congress or from the administration, we may see more insurers exiting the market later this month or next month."

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Insurers are seeking double-digit premium increases in light of "uncertainty" surrounding the Affordable Care Act, according to a new, nonpartisan study.
obamacare, rates, decrease, jump, double-digits, study
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2017-26-10
Thursday, 10 Aug 2017 12:26 PM
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