Obamacare premium increases: 36% average jump for Wisconsin buyers
MILWAUKEE — Wisconsin insurance officials say average premiums will jump 36 percent for people buying health coverage through the federally run exchange.
The average increase for small groups buying coverage through the exchange is expected to be nearly 5 percent.
About 75,000 people will have to find new providers as three health care companies — Anthem, Molina and Health Tradition — leave the exchange.
The figures were released Thursday ahead of the enrollment period that begins Nov. 1.
Deputy Commissioner of Insurance J.P. Wieske attributed the rate increases to decreased competition and the assumption that the White House and Congress won’t pay “cost sharing” subsidies that help cover deductibles and copayments for low-income consumers.
About 215,000 people are in the individual market. Wieske said those losing coverage have been notified by the insurers.
Gov. Scott Walker issued this statement:
“Obamacare is collapsing, and these huge premium increases show the law failed on its promise to deliver affordable healthcare. A 21-year-old living in Brown County will be faced with increases as high as 105 percent under one Obamacare plan, and a 55-year-old single woman living in Milwaukee County, making little more than $30,000 a year, faces monthly premiums of $990 next year under one plan. These increases are unsustainable and unacceptable. While our state remains one of the best in the nation for health insurance coverage and quality, Obamacare is disrupting healthcare markets in our state and across the country. If Washington, D.C. fails to deliver on its promise of repealing and replacing Obamacare, we will explore our options in seeking greater flexibility from the federal government to help lower costs for Wisconsin citizens.”