As premiums have skyrocketed in ObamaCare exchanges, the White House and its defenders have endlessly repeated the same mantra: Most consumers will pay less for coverage than their cell-phone bill. Democrats continually note that subsidies will buffer the price hikes for most (but definitely not all) enrollees on the exchanges, but they never get around to explaining who’s paying for the rest of the premiums through those subsidies. The answer is you are, and the bill’s going up 26% in 2017, according to a new study:
Taxpayers will fork over nearly $10 billion more next year to cover double-digit premium hikes for subsidized health insurance under President Barack Obama’s law, according to a study being released Thursday.
The analysis from the Center for Health and Economy comes as the Republican-led Congress is preparing to repeal “Obamacare” and replace it with a GOP alternative whose details have yet to be worked out. With incoming President Donald Trump likely to sign such legislation, historic coverage gains under the 2010 health law are at stake.
The study estimates that the cost of premium subsidies under the Affordable Care Act will increase by $9.8 billion next year, rising from $32.8 billion currently to $42.6 billion.
The average monthly subsidy will increase by $76, or 26 percent, from $291 currently to $367 in 2017