Golden State health-insurance premiums set to increase 13 percent
President Obama’s signature health-insurance law is forcing Americans already cash-strapped to tighten their proverbial belts even more as premiums in the so-called “Land of Milk and Honey” are set to increase even more.
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.
The big hikes come after two years in which California officials had boasted that the program helped insure hundreds of thousands people in the state while keeping costs moderately in check.
Premiums in the insurance program called Covered California rose just 4% in 2016, after rising 4.2% in 2015 — the first year that exchange officials negotiated with insurers.
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