The individual market shrank by 15% between March 2016 and March 2017, including a 25% decline among unsubsidized policyholders. The individual market is not “sound.” Because of rising premiums, millions of people who are not receiving subsidies can no longer afford to buy individual policies, and millions more may forfeit their policies in the next round of rate hikes.
Relinquishing at least some regulatory authority to the states might produce more functional markets where insurers can offer consumers the coverage they want at a price they can afford.
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