How to drive insurance coverage in 2017
As insurers adjust to a new marketplace, some consumers are wondering whether their premiums will rise next year.
Insurers are already raising rates on the uninsured, even though many remain in the program.
A recent report from the insurance industry’s trade group found that while most insurance plans are raising premiums for 2017, they are not raising rates for the average insured.
The Kaiser Family Foundation has estimated that average premiums for a family of four in 2019 will increase by $2,000, or 4 percent, to $6,600, an increase of more than $800 for each person.
The report said many states are still adjusting to the new rules.
Insurance companies are also facing pressure to increase their profit margins, as they continue to negotiate the new terms with insurers.
Insurer profits are currently at historic highs, the Kaiser report said.
Insurers said their profitability has been boosted by the Trump administration’s decision to end subsidies for Obamacare, which were a boon to the industry.