Expected double-digit Obamacare health insurance premium hikes coming just one week before the November 7 election are expected to drag the program’s favorability ratings to new lows, as support from independents and Democrats continues to fade.
The non-partisan Congressional Budget Office’s latest estimate for the Patient Protection and Affordable Care Act (Obamacare) anticipates that the cost of tax credits to subsidize insurers participating in exchanges will rise from $37 billion in fiscal year 2015 to $56 billion in 2016, and $105 billion by 2025.
Despite an Obama administration estimate in March 2010 that the average cost of subsidies per enrollee would be about $2,810, the average cost for the 13 million subscribers in 2016 averaged $4,308.
Marilyn Tavenner, President and CEO of America’s Health Insurance Plans, warned on April 20 that the culmination of market shifts that insurers have faced over several years will cause a stark rise in health insurance rates on Obamacare exchanges.
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