Thanks Obamacare! Health Insurance Premiums Are Projected To Spike Dramatically Once Again In 2018

by Michael Snyder, End Of The American Dream:

Are you ready for your health insurance premiums to go up again?  Ever since Obamacare became law, health insurance premiums have been rising dramatically year after year.  In 2016, one study found that the average Obamacare premium rose by about 24 percent, and similar increases have been seen all around the nation in 2017.  As you will see below, large premium hikes are on tap for 2018 as well, and rates are going to continue to rise until lawmakers finally do something about this nightmare.

But even though the Republicans in Congress can’t get their act together, at least President Trump is trying to do what he can on his own

President Trump proclaimed Friday that his goal is to dismantle his predecessor’s health care plan, hours after his administration suddenly announced that it would halt subsidy payments to insurers.

“ObamaCare is a broken mess,” Trump tweeted. “Piece by piece we will now begin the process of giving America the great HealthCare it deserves!”

Of course Democrats are in quite a panic now that the subsidy payments have been shut off.

In fact, one member of the Senate actually accused President Trump of committing “health-care arson”

Trump’s decision, announced Friday after months of criticizing the payments as an insurance industry bailout, will throw in doubt the private insurance exchanges that are part of the Affordable Care Act. Democrats vowed to use year-end negotiations on the federal agency budgets as a leverage point to reinstate the payments, vowing to pin the political blame on Republicans if premiums skyrocket next year.

“This is the equivalent of health-care arson. He is literally setting the entire healthcare system on fire just because the president is upset that the United States Congress won’t pass a repeal bill,” Sen. Chris Murphy (D-Conn.) said on “Fox News Sunday.

Actually, if anyone should be accused of destroying our healthcare system it is the Democrats.

Since Obamacare was first passed, many Americans have seen their health insurance premiums more than double.

And more rate increases are coming in 2018.  Here in Idaho, it is being projected that Obamacare premiums will rise next year by an average of 38 percent

Dean Cameron, director of the Idaho state Department of Insurance, announced today that health insurers offering plans on Idaho’s state insurance exchange have proposed premium rate increases next year averaging 38 percent. “I am deeply disappointed and frustrated to share these rates,” Cameron said in a news release; you can read it here. “I understand how difficult it will be for Idahoans to afford reasonable coverage, especially those without a subsidy.”

That is absolutely insane!

And for the most popular silver plans, the average rate increase here in Idaho is going to be around 50 percent

Idaho Statesman reporter Audrey Dutton reports that the largest increases are proposed in the “silver” plans, which are the most popular ones on the exchange, falling mid-range in pricing and benefits between the lower-level “bronze” plans and the high-end “gold” plans. Silver plans are showing average increases of 50 percent in premiums; they range from a low of 40 percent at Blue Cross to 69 percent at SelectHealth.

Idaho families simply cannot afford these sorts of rate increases, and that is why one of my top priorities as a member of Congress will be to repeal Obamacare immediately.

Of course Idaho is far from alone when it comes to enormous premium increases.  Out on the east coast, residents of Maryland will also see huge Obamacare rate increases in 2018

The cost of premiums for plans sold on the state’s health exchange will soar for 2018, adding to questions about the stability and affordability of the health insurance program known as Obamacare.

Read More @ EndOfTheAmericanDream.com