Keep Working America: Obamacare Subsidies Will Cost Taxpayers $42.6 Billion Next Year

Posted: Dec 15, 2016 2:00 PM

Keep working, America. The boondoggle known as Obamacare is depending on you. 

Thanks to premiums within the Obamacare exchanges spiking by 50 percent, taxpayers will be forced to fork over an additional $10 billion next year to pay for subsidies. From CBS News:

The analysis from the Center for Health and Economy comes as the Republican-led Congress is preparing to repeal “Obamacare” and replace it with a GOP alternative whose details have yet to be worked out. With incoming President Donald Trump likely to sign such legislation, historic coverage gains under the 2010 health law are at stake.

The study estimates that the cost of premium subsidies under the ACA will increase by $9.8 billion next year, rising from $32.8 billion currently to $42.6 billion.

The average monthly subsidy will increase by $76, or 26 percent, from $291 currently to $367 in 2017.
House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell have indicated repeal and replacement of Obamacare will become a top legislative priority when President-elect Donald Trump is sworn in to office on January 20, 2017. 

New Fox News polling out today shows 68 percent of voters expect Trump will keep his campaign promise to repeal the healthcare legislation.