The Obama administration Monday confirmed a 25% average jump in premiums for the Affordable Care Act’s benchmark health plans and acknowledged later sign-up deadlines for hundreds of thousands of people whose insurers are dropping their plans because of rising costs.
Sharper increases had already been posted in states around the country. Market-leader insurers that are continuing to sell coverage through HealthCare.gov or a state equivalent have been granted average premium increases of 30% or more in Alabama, Delaware, Hawaii, Kansas, Mississippi and Texas. In states including Arizona, Illinois, Montana, Oklahoma, Pennsylvania and Tennessee, the approved rate increases for the market leader top 50%.
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