That is higher than the company's original rate request filed in May for an 18.8 percent increase. The rate was approved by the state
According to the
Like its competitors,
Double-digit increases common
Overall, premium increases were "flat" in the second year of ACA enrollment and mostly "modest" during the third year. Such high increases for this fourth year suggest that insurers had under-priced their plans initially, Cox said.
Even with increases, current marketplace premiums are below
More worrisome than the rate increases, Cox said, is the withdrawal of insurance companies from the online marketplace. "Premiums could be a one-time market correction," she said, "but the exits raise concerns about the sustainability of the marketplace in the long term."
The architects of the ACA anticipated an influx of older, sicker customers, but expected that the cost of treating them would be offset by attracting younger and healthier customers. That hasn't worked out for
"About 72 percent of our ACA customers who enroll through Healthcare.gov will pay less than or the same next year as they're paying in 2016," the
For example, the blog described a hypothetical family of four in
Premiums without the subsidy will be a "significant challenge for many people" who buy plans through the ACA marketplace,
(c)2016 The Charlotte Observer (Charlotte, N.C.)
Visit The Charlotte Observer (Charlotte, N.C.) at www.charlotteobserver.com
Distributed by Tribune Content Agency, LLC.