WASHINGTON (AP) - The Obama administration is confirming that premiums will go up sharply next year for health insurance sold to millions of consumers through HealthCare.gov.
Before taxpayer-provided subsidies, premiums for a midlevel benchmark plan will increase an average of 25 percent across states served by the federally run online market.
The number of insurers serving the federal market will drop from 232 to 167, a loss of about 28 percent.
Administration officials say that despite the sobering numbers, subsidies designed to rise alongside premiums will insulate most customers from sticker shock. And they add that consumers who are willing to shop for a cheaper plan will still be able to find bargains.
Sign-up season starts Nov. 1, and window-shopping for plans and premiums is already available.
Senator Steve Daines sent KULR-8 this statement, "Montanans are stuck with rate insurance hikes that are more than the jaw dropping 25% national average for next year. Obamacare isn't affordable and needs to be replaced with state-driven solutions that puts patients at the center of the healthcare equation."
Senator Jon Tester sent KULR-8 this statement, "These increasing health insurance rates are totally unacceptable. Health insurance companies and Congress need to be doing more to bring costs down. But instead of working for bipartisan solutions, there are some who want to repeal the Affordable Care Act and go back to the old system where 20 percent of Montanans were uninsured. I hope Congress can put aside partisan politics and do its part to lower the cost of health care for all Montanans."
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