California Projects Big Obamacare Increase in 2017 — But Rates Are Still Way Under Original Projections

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Obamacare rates are going up in California:

Premiums for Californians’ Obamacare health coverage will rise by an average of 13.2% next year — more than three times the increase of the last two years and a jump that is bound to raise debate in an election year.

….Two of the state’s biggest insurers — Blue Shield of California and Anthem Inc. — asked for the biggest hikes. Blue Shield’s premiums jumped by an average of more than 19%, according to officials, and Anthem’s rates rose by more than 16%.

That’s gonna hurt. And it’s going to be a big political football too. Just keep in mind what I told you a few weeks ago: Obamacare rates have been way under projections ever since the program started in 2014. Even if premiums go up 13 percent nationwide, the average will still be around $4,746, far less than the $5,616 the Congressional Budget Office originally projected for 2017.

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