Ali Meyer of the Washington Free Beacon reports on the latest projections for Affordable Care Act health insurance rate increases.
Next year, average benchmark premiums for Obamacare plans are expected to rise 15 percent more than they did this year, according to projections from the Congressional Budget Office.
“In 2018, the agencies project, the average benchmark premium will be roughly 15 percent higher than it was in 2017, largely because of short-term market uncertainty—in particular, insurers’ uncertainty about whether federal funding for certain subsidies that are currently available will continue to be provided,” the budget office explains.
Additionally, premiums for benchmark plans are expected to rise an average of 5 percent each year from 2017 through 2027.
The budget office projects that average premiums will total $3,400 for a 21 year old, $4,800 for a 45 year old, and $9,800 for a 64 year old this year. …
… Additionally, the report finds that due to higher premiums, the number of uninsured individuals is expected to increase.
“For 2026, the agencies’ projection of the number of people obtaining subsidized coverage through the marketplaces is now 4 million smaller, and the projected number of uninsured people is now 3 million larger, than they were in CBO’s March 2016 baseline projections,” the budget office said. “Between 2017 and 2018, the number of uninsured people rises by 2 million in the agencies’ projections, mainly because premiums in the nongroup market are expected to be higher.”
