Affordable Care Act

GOP Tax Plan Could Hike Your Health Premiums by 90%

Thanks to Republicans, if you get your health insurance through one of the exchanges under the Affordable Care Act, your premiums could increase between 12 and 32 percent next year alone. And that’s just for starters.

Ninety Percent Premium Hike? By 2021, you could pay an exorbitant 90 percent more. As you make those exorbitant payments, you can blame President Trump and Congress for reducing the enrollment—and, thus, raising the costs—of these plans:

  • The Republican tax bill eliminated the requirement that most Americans carry coverage.
  • The Trump administration shortened sign-up times and cut back marketing for the plans.

Trump States Suffer Most. A recent national report by California’s insurance marketplace found that there are big differences from state to state, with much of the South and Midwest at risk of “catastrophic” rate increases within three years. In some of these conservative states, insurance regulators won’t protect consumers effectively. To see how your state will do, click here.

 

Some Middle-Class Consumers Shut Out. The ACA’s subsidies will protect some “lower-middle-class” customers from steep rate hikes. But other middle-class customers who earn too much for subsidies could be unable to afford their health plans.

Categories: Affordable Care Act