Health insurance premiums are set to rise significantly, with an average increase of 75% for those purchasing through Healthcare.gov or state marketplaces. This surge is linked to the expiration of enhanced premium tax credits introduced during the COVID-19 pandemic, which previously helped lower costs. With these subsidies ending, the record enrollment of 24 million people—resulting from reduced premiums—will likely decrease as costs spike. Insurers cited changes in federal policy rather than traditional factors like rising drug and hospital costs as the reason for higher rates.
"The average person who buys Affordable Care Act insurance will be paying 75% more for their premium."
"The number of people signing up for coverage has more than doubled... Enrollment hit a record 24 million."
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