Double-Digit ACA Premium Increases Across the Country
With open enrollment for 2017 just a few months away, consumers across the country are seeing insurance companies propose double-digit rate increases for individual plans on the health insurance marketplace. The Washington Post notes several insurers have withdrawn from offering ACA plans and more than half of the co-ops have been forced to close due to insolvency. In spite of these increases, many consumers won’t pay the full increase since many of them qualify for tax subsidies. According to healthinsurance.org, in 2016 75% of Arizona consumers qualified for tax subsidies to offset the cost of their premiums.