CBO: Uncertainty to blame for 15% average premium hike on ACA exchanges
Average premiums for health plans purchased on the Affordable Care Act (ACA) will be 15 percent higher in 2018, according to the Congressional Budget Office (CBO), largely due to how the administration of President Donald Trump has managed the law.
The CBO report cites “short-term market uncertainty” caused by the administration’s support of efforts to repeal the law and its refusal to guarantee payment of cost-sharing reduction subsidies to insurers. A previous report That uncertainty has led to reduced competition, with many U.S. counties having only one insurer participating on the exchanges, as well as higher premiums which factor in the possibility of those payments being pulled.
Enrollment is projected to grow to 11 million, but the CBO expects it to be limited by the increase in premiums.
Read more about the report at Vox:
John joined TriMed in 2016, focusing on healthcare policy and regulation. After graduating from Columbia College Chicago, he worked at FM News Chicago and Rivet News Radio, and worked on the state government and politics beat for the Illinois Radio Network. Outside of work, you may find him adding to his never-ending graphic novel collection.