Days After Obama's Glowing Review, Obamacare Premiums to Rise Almost 25 Percent

Cortney O'Brien
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Posted: Oct 24, 2016 5:30 PM
Days After Obama's Glowing Review, Obamacare Premiums to Rise Almost 25 Percent

Some lovely news on a Monday afternoon. The damage done by Obamacare is about to get 25 percent worse. New government data released on Monday shows that customers under the silver plan, the most popular plan under the Affordable Care Act, are going to suffer financially.

The benchmark silver plan -- upon which federal subsidies are based -- will cost an average of $296 a month next year. That figure is based on prices for a 27-year-old enrollee in the 39 states that use the federal healthcare.gov exchange, plus the four states and Washington D.C. that have their own exchanges.

Guy previewed this expensive outcome last week.

As CNN Money notes, insurers are also running away from ACA as fast as they can, with a handful of states only offering one insurer in the federal exchange.

The number of carriers will drop to 228 next year in the federal exchange and selected states, down from 298 in 2016. Some 21% of consumers returning to the exchanges will only have one carrier to chose from, though that insurer will likely offer multiple plan choices.

This unfortunate news comes just a few days after Obama's A+ review of his signature legislation on Friday. Obamacare was so great, he said, that many Americans don't even know they're benefitting from it.

He was more accurate when he made the following comparison.