But most of the 39 states will experience double-digit percentage price hikes. Federal officials like HHS Secretary Sylvia Burwell say that a huge majority (around 85%) of Obamacare customers qualify for financial aid, translating to greatly reduced monthly rates of $50 to $100. The typical consumer earns $19,000 individually or $40,000 for a family of four. So the guy in Arizona pays $422 while some other person pays $50. Most Americans are happy to supplement needy individuals, but paying four times the amount of others is a bit much. And if you think the costs are helped by more 2017 signups, you’re wrong–only 13.8 million people are expected to enroll in 2017, only 1.1 million more than last year.
No big surprise–higher prices are due to customers who cost more than had been projected. Duh. More sick people with pre-existing conditions have enrolled, and the reinsurance program that paid for really sick enrollees expires in 2016 and must be compensated for in 2017 Insurance companies finally have enough data to see that they cannot survive in the marketplace. States like Arkansas, Oklahoma, Wyoming and Alabama, will have just one insurance company choice because providers like Aetna, Cigna and United Healthcare have pulled out of the marketplace. In fact, 20 percent of customers nationwide will only have one choice due to companies fleeing the market.
Fines are still in place in 2017–either 2.5 percent of household income or $695, whichever is higher.
Trump wants to replace Obamacare with the much more viable option of Health Savings Accounts (HSAs), and rather than a federal mandate, Trump wants to work with the states to reform Medicaid and ensure coverage for high risk individuals. Finally, Trump favors a competitive marketplace that allows insurance purchases across state lines.
The Kaiser Family Foundation reports that Obama’s promise to cut the family premium cost by $2,500 has instead resulted in a premium rise of almost $5,000. Maybe it’s time to vote your pocketbook and give Trump a chance. Obamacare has failed miserably and Hillary will follow suit. Even her own husband says Obamacare is a hot mess.