Ahead of Halloween, the Obama administration made a scary announcement for HealthCare.gov customers: premiums are going up “by double-digit[s]” in 2017.
Late on Monday, the Obama administration announced that premiums on its signature HealthCare.gov will go up by “double-digit percentages” in 2017:
BREAKING: Obama administration says https://t.co/Elaw2I8wgo premiums will go up by double-digit percentages next year.
— The Associated Press (@AP) October 24, 2016
CNN Money added that premiums will “skyrocket an average of 22%.”
Its the latest hit for Obamacare in a year when Obama’s signature achievement has been plagued by fraud and struggling exchanges.
The Obama administration’s announcement echoes a Kaiser Family analysis released on Monday afternoon, indicating that premiums “are expected to increase faster in 2017 than in previous years due to a combination of factors.”
In Kaiser’s analysis of the marketplace, a major city in 45 of 50 states will experience an increase in premiums for the popular “silver” plan. Thirty-two of 50 cities will see double-digit increases, and one will see a triple-digit increase (Phoenix, AZ, 145% increase).
What’s worse, the average number of issuers on HealthCare.gov will drop to 3.9 in 2017, from 5.4 in 2016.
Can the Obama administration do anything in its closing months to correct course on a rough year, or will Obama end his term in office with his signature health law on life support?
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