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Rising Obamacare Rates Increase
Federal officials have stressed it is very import to review your 2017 options – since the Obamacare subsidy levels and premiums vary year to year. Customers who do not actively make a selection will be automatically re-enrolled in their current plan and could see an unexpected price increase.
Obamacare Silver Plan
The Obamacare silver plan is used as a benchmark where federal subsidies are based. The Obamacare silver plan will cost an average of $296 a month in 2017. That number is based on prices for a 27-year-old enrollee in the 39 states that use the federal healthcare.gov exchange, plus the four states and Washington D.C. that have their own exchanges.
It is important to note, however that most consumers are protected from these price increases – especially if they return to the Obamacare exchanges to shop after enrollment starts Nov. 1. Some 85% of Obamacare enrollees receive federal subsidies – which can reduce their premium to less than 10% of their income.
2017 Obamacare enrollment is expected to grow 9% to an average of 11.4 million, government officials said.
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