Obamacare premiums are slated to rise 18 percent in 2018 as more and more insurance carries break their ties with the government issued health care plan.
According to a Congressional Budget Office report, more Americans will shell out more money for less choices in the health care market as Obamacare continues to crumble.
The CBO explained that not including Medicaid and Medicare, the government has a massive bill to foot, thanks to Obamacare.
“The net federal subsidy for health insurance coverage for people under age 65—that is, the cost of all the subsidies minus the taxes and penalties—would be about $705 billion in 2017 and would total $9.2 trillion over the 2018-2027 period,” the report stated.
An additional one million people under the age of 65 are expected to be uninsured or lose their health care coverage next year.
If that’s not bad enough, Time reported that in 2018, 41 percent of all counties in the U.S. will just have one insurer to choose from.
That’s about 1,472 counties, according to the Washington Free Beacon.
To make matters worse, there’s one last hook that puts the individuals’ finances at risk.
“Individuals who will be living in an area where there is no insurer offering coverage will still be bound by Obamacare’s individual mandate to purchase health insurance or be forced to pay a penalty,” the Free Beacon explained.
It seems as if President Donald Trump was right all along. Obamacare is crumbling and Americans are sick and tired of shelling out the big bucks for poorer coverage and fewer options.
Some in Congress have introduced legislation that would protect people from a penalty if there is no insurer offering coverage in their area, but there is no guarantee that legislation will pass. Congress needs to work quickly to fix the disaster that is Obamacare, and provide a better solution that won’t put Americans into debt.
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