Double-digit Obamacare premium hikes projected in 2017 may bode in Donald Trump’s favor, as several swing states are being impacted by double-digit increases under the law and consumers are expected to see the hikes around Nov. 1 — one week before heading to the polls.
Trump has promised to repeal and replace Obamacare, but Hillary Clinton has vowed to make the Obamacare exchanges work. Some say the way she would do that is through raising taxes.
“Any reports of premium increases will immediately become talking points on the campaign trail,” stated Larry Levitt of the Kaiser Family Foundation. “We’re in an election where the very future of the law will be debated.”
The Heritage Foundation found dramatic increases on premiums in Wisconsin and Florida as well as Michigan, Virginia, Pennsylvania, and North Carolina under the law in comparison to before Obamacare went into effect. Currently, insurers in the Obamacare marketplace in North Carolina, Ohio, Pennsylvania, and Illinois are wanting double-digit hikes on premiums.
Blue Cross and Blue Shield of North Carolina is reportedly requesting to increase rates by more than 18 percent, while in Ohio, the average requested hike is around 10 percent. In Pennsylvania, companies want hikes averaging 23.6 percent, according to the Pennsylvania Insurance Department.
The next president may face the meltdown of Obamacare, as Aetna announced on Tuesday that it’s pulling back coverage in 15 states and will only remain in four states due to a $200 million dollar loss.
The Obama administration argues that Aetna’s move isn’t a sign of trouble for Obamacare, according to The Hill.
“Aetna’s decision to alter its Marketplace participation does not change the fundamental fact that the Health Insurance Marketplace will continue to bring quality coverage to millions of Americans next year and every year after that,” stated Kevin Counihan, CEO of ObamaCare marketplace.
But Aetna isn’t the only insurer facing cost issues in the Obamacare exchanges. UnitedHealthcare and Humana are also major insurers that are pulling back.
The news comes as record high premium spikes are expected in 2017.
Fox News cites The Kaiser Family Foundation report that revealed low cost plans under Obamacare face an 11 percent hike. The District of Columbia is facing a 21 percent hike in premiums while Portland is facing a 26 percent hike. New York City faces a 16 percent increase in premiums.