Pennsylvania Obamacare insurance rates will jump nearly 5 percent next year

June 05--Insurers that offer individual plans on Pennsylvania's Affordable Care Act marketplace will raise premium prices by about 4.9 percent for 2019, the Pennsylvania Insurance Department said Tuesday.

Most people won't see a significant difference in their premium prices because federal financial assistance typically increases to match price hikes. However, those who don't qualify for subsidies will have to pay more.

Nearly 400,000 Pennsylvanians signed up for insurance through the Affordable Care Act for this year, according to the U.S. Department of Health and Human Services.

Enrollment for 2018 fell about 7 percent short of the 2017 numbers after federal officials cut the enrollment period in half and reduced funds for advertising and enrollment assistance.

President Donald Trump and Republican lawmakers have made several significant changes to the health law in the past year, including eliminating the requirement that people have health insurance and cutting federal subsidies.

Without a penalty for the uninsured, some young and healthy people likely would drop their insurance plans, leading insurers to raise prices or leave the marketplace, health experts say.

A repeal of the individual mandate would reduce the federal deficit by about $338 billion in the next decade but increase the number of uninsured by 13 million, a 2017 Congressional Budget Office estimate shows.

Nearly 23,000 Lehigh Valley residents are covered under Obamacare and three insurance companies -- Highmark, Capital BlueCross and Geisinger -- offer more than a dozen Obamacare insurance plans in the region.

Bhuang@mcall.com

610-820-6745

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