Obtaining insurance through the Affordable Care Act (ACA) exchanges will be even more expensive next year, according to a new report.
The Congressional Budget Office (CBO) estimates that ObamaCare premiums will rise 15% in 2019, driven in large part by the administration’s decision to eliminate the individual mandate penalty, which means people will no longer face a fine for not having coverage. That change is expected to lead to less healthy people buying insurance on the exchanges.
Through 2028, the CBO projects premiums will climb about 7% per year, on average.
However, many who buy coverage on the ObamaCare exchanges also receive subsidies, which helps shield them from price increases.
Earlier this year, the Trump administration announced a plan to extend short-term, limited-duration health coverage to 12 months, in an effort to reduce costs. Such coverage wouldn’t meet all of the Affordable Care Act requirements.
The Congressional Budget Office (CBO) estimates that ObamaCare premiums will rise 15% in 2019, driven in large part by the administration’s decision to eliminate the individual mandate penalty, which means people will no longer face a fine for not having coverage. That change is expected to lead to less healthy people buying insurance on the exchanges.
Through 2028, the CBO projects premiums will climb about 7% per year, on average.
However, many who buy coverage on the ObamaCare exchanges also receive subsidies, which helps shield them from price increases.
Earlier this year, the Trump administration announced a plan to extend short-term, limited-duration health coverage to 12 months, in an effort to reduce costs. Such coverage wouldn’t meet all of the Affordable Care Act requirements.
Comments