Premiums will go up sharply next year under President Obama’s healthcare law, and many consumers will be down to just one insurer, the administration confirmed Monday. That will stoke another Obamacare controversy days before a presidential election.Before taxpayer-provided subsidies, premiums for a midlevel benchmark plan will increase an average of 25% across the 39 states served by the federally run online market, according to a report from the Department of Health and Human Services. Some states will see much bigger jumps, others less.
The vast majority of the more than 10 million customers who purchase through and its state-run counterparts do receive generous financial assistance. “Enrollment is concentrated among very low-income individuals who receive significant government subsidies to reduce premiums and cost-sharing,” said Caroline Pearson of the consulting firm Avalere HealthBut an estimated 5 million to 7 million people are either not eligible for the income-based assistance or they buy individual policies outside of the health law’s markets, where the subsidies are not available. The administration is urging the latter group to check out . The spike in premiums generally does not affect the employer-provided plans that most workers and their families rely on.
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