Obamacare health insurance premiums in some of the states are expected to rise by double digits over the next year, as per the data gathered from the group Freedom Partners.
Last year, premiums had increased by 22% and this year they are further expected to rise by a huge 27%. This increase comes in right after when the premiums already rose by a 32% from 2005 through 2012.
Freedom Partners had created a map, which shows exactly which state residents would pay how much and how much they should expect their premiums to increase in 2018. The five states where the premiums are expected to grow the most are Virginia with a 55% increase, Kentucky – 49% increase, Mississippi – 47% increase, Maryland – 47% increase, and Florida with 43% increase.
Certain areas in some states may even see higher premium increases than their state averages. As per the data, there are almost 335,000 enrollees in Florida who could see their premiums rise by a massive 71%. Another 21,000 enrollees in Virginia may see their premiums hike up to 81%. In Kentucky, there are some 23,000 enrollees who could see a 56% premium increase in their Obamacare plans.
“These cost increases represent a massive burden, especially for the estimated 10 million Americans who either earn too much to receive government subsidies through Obamacare to pay their premiums or purchase coverage outside of the law’s exchanges,” the report discussed.
Nathan Nascimento, the vice president of policy at Freedom Partners, also said that these skyrocketing costs are why the Congress must repeal Obamacare and provide relief to the suffering Americans.
“It’s about time the government stopped fining people who can’t afford to buy these plans in the first place,” Nascimento commented. “This administration is showing that it is serious about expanding access to more affordable and flexible options—it’s time now for Congress to get serious, too.”
The Department of Health and Human Services recently released another report that is indicating that these premiums are expected to rise by 37% for the second-lowest cost silver plan. And the Freedom Partners analysis looked at all plans on the exchanges.
Obamacare which was designed to provide relief and ease to the Americans with a uniform and standardized health care plan is now turning to be a nightmare for the same citizens.