![]() All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2019 and/or its affiliates. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Factset: FactSet Research Systems Inc.2019. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Obamacare enrollment is expected to grow 9% to an average of 11.4 million in 2017, administration officials said last week.Īre you remaining uninsured in 2017? Email and you could be included in a future CNNMoney story. The share of uninsured Americans has dropped to a record low 8.6%. Some 10 million are expected to be enrolled at year's end. Some 10.4 million people were enrolled in Obamacare plans as of June 30, the administration announced. While they do not expect the exchanges to fail, they said that the law should be revised to bolster the risk adjustment program that protects insurers from very sick enrollees and to make it more difficult for people to sign up after enrollment closes. Many insurers priced their plans too low as they tried to navigate a new market and attract customers. While Obamacare is going through a big shakeout, most experts say this is an expected transition period. ![]() Related: Obamacare enrollment projected to grow 9% in 2017 If consumers don't think it's a good deal, they could opt to drop their plans or to remain uninsured. To keep costs down, insurers have been narrowing their networks of providers, and this could anger enrollees, said Sabrina Corlette, research professor at Georgetown University's Health Policy Institute. This year, only Wyoming had a sole carrier.Īnother issue for consumers is finding or keeping a doctor and hospital they like. Some 21% of consumers returning to the exchanges will only have one carrier to chose from, though that insurer will likely offer multiple plan choices.įive states - Alaska, Alabama, Oklahoma, South Carolina and Wyoming - will only have one insurer providing plans on the federal exchange in 2017. The number of carriers will drop to 228 next year in the federal exchange and selected states, down from 298 in 2016. The price hikes aren't Obamacare's only problem for next year. But the program is still costing less than the Congressional Budget Office originally estimated since fewer people have enrolled and insurers priced their plans lower than expected. The premium increases also mean that Obamacare is growing more expensive for the federal government since it has to provide larger subsidies. ![]() Related: Frustration runs deep for customers forced to change Obamacare plans routinely "That will have an effect on the perception of the program." "Relatively few people will feel the premium increases, but everyone will hear about them," said Dan Mendelson, president of Avalere Health, a consulting firm. Some 77% of consumers will be able to find a plan that costs $100 or less after subsidies, officials said. Customers who don't actively make a selection will be automatically re-enrolled in their current plan and could see an unexpected price increase. ![]() The subsidies are pegged to the second-lowest cost silver plan in their area, known as the benchmark plan.įederal officials stressed the importance of reviewing the 2017 options since the subsidy levels and premiums vary year-to-year. Some 85% of Obamacare enrollees receive federal subsidies, which can lower their premium to less than 10% of their income. Most consumers, however, are shielded from these price hikes, especially if they return to the exchanges to shop after enrollment opens Nov. Related: Drawing more uninsured into Obamacare is critical to its survival In Indiana, the benchmark plan will be 3% cheaper.
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