Tags: obamacare | premiums | spike

Obamacare Premiums Keep Rising

Obamacare Premiums Keep Rising
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By    |   Tuesday, 05 June 2018 10:01 AM

Rate proposals for Obamacare premiums keep rising, Axios reported.

Insurers in the state of Washington are seeking a 19 percent increase while in New York the average proposed increase is 24 percent.

The repeal of Obamacare's individual mandate penalty for those who did not buy insurance was the "single biggest" reason that insurers requested the increases, the New York State Department of Financial Services said.

The rates are proposals; the final increases will be different, Axios reported.

Increases will vary from one insurer to the next, and actual premium costs will depend on customers' ages, where they live, whether they smoke, and if they get financial help from the government, Axios noted.

Several insurers in Maryland and Virginia are also seeking double-digit percentage increases in monthly costs. 

Figures from the Congressional Budget Office also point to increases. An average "benchmark" plan is 34 percent higher in 2018 than in 2017, according to Axios.

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Rate proposals for Obamacare premiums keep rising and insurers in the state of Washington are seeking a 19 percent increase.
obamacare, premiums, spike
153
2018-01-05
Tuesday, 05 June 2018 10:01 AM
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