Obamacare Premiums to Increase AGAIN for 2019

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Millions of Americans still using Obamacare for health insurance will see their premiums increase again for 2019.

Obamacare Premiums to Increase AGAIN for 2019

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According to the Congressional Budget Office (CBO), Obamacare premiums will increase by an average of 15% next year. However, many of the Americans on Obamacare won’t see increases quite this drastic due to receiving federal subsidies.

The CBO says that the reason for the major increase to Obamacare premiums next year has to do with the recent tax reform. This law includes a part that cut the fine for not having health insurance. This change is responsible for 10% of the 15% increase next year.

Those that can bear to stay with the Affordable Care Act after 2019 won’t get any slack. The CBO is predicting that premiums will continue to increase by 10% per year until 2023. It then expects premiums to increase 5% per year from 2024 to 2028, reports CNN.

Here’s how some Twitter Inc (NYSE:TWTR) users are reacting to the news that premiums are increasing.

  • “PETITION, wanted…signatures to do away with ObamaCare, which raised insurance rates on millions of Americans. Prior to it, there was medicare and medicade, so what else was needed for the poor and elderly?”
  • “Obamacare will never die. It’ll be back in full force and better than ever after November 2018.”
  • “The CBO needs to stop calling it Obamacare. They should be calling it TrumpCare or RepublicanCare.”
  • “America’s already expensive out-of-pocket healthcare costs will increase next year & we have Republicans’ obstructionism to undermine Obamacare to thank.”
  • “Trump’s #ACASabotage means #Obamacare premiums will rise an average of 15% next year, 3 million more people will fo without health insurance because of it, too.”

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/05/obamacare-premiums-increasing-in-2019/.

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