President Barack Obama’s signature Obamacare healthcare law is offering Americans double-digit rate hikes and shriveled choices among fewer insurance companies in 2017.
“Consumers will be faced this year with not only big premium increases but also with a declining number of insurers participating, and that will lead to a tumultuous open enrollment period” for Obamacare before 2017, says Larry Levitt of the Kaiser Family Foundation.
The Obama administration confirmed Monday the sharp rise in planned premiums for 2017 and the fact that many Americans will have to choose plans from only one Obamcare insurer in their region, reports the Associated Press.
Consumers will see their premiums for a midlevel benchmark insurance plan jump an average of 25 percent in the states with exchanges run by the federal government, admits the Department of Health and Human Services (HHS).
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