In The News: Insurance Premiums Could Skyrocket in 2017

In The News: Insurance Premiums Could Skyrocket in 2017 30November

Some Arizonans could be facing higher insurance premiums come 2017. According to the Arizona Republic:

Arizona health insurers that sell Affordable Care Act plans next year will seek some of the largest rate increases since the marketplace launched in 2014.

The average rate ask for one insurer is nearly 65 percent, but the amount consumers actually will pay depends on factors such as age and income and how much state regulators allow insurers to raise rates.

This increase will not affect those that receive their insurance through their employer. The ones that will feel the hit the hardest will be those that have to pay their own way (azhha).

As of December, about 155,000 Arizonans had coverage through the marketplace, a signature part of President Barack Obama’s health care overhaul law. As of March, the federal Centers for Medicare and Medicaid Services said 203,000 Arizonans had signed up for policies, but there’s no way to determine how many of them have actually paid their premiums. The six insurers who filed for rate increases listed about 140,000 customers.” (Arizona Daily News, azhha)

A determination of these higher rates are set to be reviewed to see if the increase is fair. See more on this subject by visiting Arizona Hospital and Healthcare Association.

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