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Brace For 10% Obamacare Rate Hikes After Congress Snubs ACA Stabilization

March 22, 2018

Via: Forbes

With Congress leaving out money to stabilize individual coverage under the Affordable Care Act from its $1.3 trillion spending bill, health insurance companies were quick to predict future rate hikes of at least 10% — and that’s not just for those with subsidized coverage.

The long promised package designed to boost the individual “Obamacare” market on public exchanges under the ACA was supposed to include reinsurance programs and money to restore funds to help Americans pay co-payments and deductibles under a bipartisan proposal being worked on by Sen. Lamar Alexander (R-Tennessee) and Sen. Susan Collins (R-Maine). But the legislation was derailed thanks to conservatives among U.S. House and Senate Republicans who control Congress and therefore the ACA stabilization package remains shelved.

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