Tag: premiums

Small Businesses Might Drop Obamacare as Premiums Skyrocket

Minnesota Sun Staff

Health insurance premiums offered under the Affordable Care Act (ACA), colloquially known as Obamacare, will rise next year, hitting small businesses particularly hard and potentially pressuring them to drop out of the program.

While recent provisions in the Inflation Reduction Act have provided additional subsidies for individual consumers that will likely offset the increased cost of premiums, no such support was granted to small business owners, according to the Wall Street Journal. Insurers are proposing median premium increases of 10%, but some are proposing increases as high as 20%.

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Democrats Worry About Spike in Obamacare Premiums Ahead of Midterms

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Obamacare

As Democrats head into the November midterms with historically low approval ratings, another major factor could arise that will further contribute to the shrinking of their already-slim majorities.

As reported by The Hill, the Affordable Care Act – known colloquially as “Obamacare” – could face a significant increase in premiums due to a lapse in special funding provided by the coronavirus aid bill passed last year. That bill, known as the American Rescue Plan, temporarily increased financial assistance for Americans seeking healthcare through Obamacare; the increase was set to expire just one year after the bill’s passage.

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States Have a New Opportunity to Lower Health Insurance Premiums and Expand Options

Minnesota Sun Staff

by Mary Fishpaw   The Trump administration is offering welcome relief to Americans struggling with high premiums under Obamacare premiums and a lack of insurance choices. The administration has taken a series of regulatory actions to do the following: Make short-term, limited duration policies widely available and give consumers the…

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Congress Can Slash the Cost of Health Care Premiums by as Much as a Third

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by Doug Badger   A proposal to repeal Obamacare entitlements and replace them with grants to states would reduce premiums for individual coverage by as much as 32 percent, according to an analysis by the Center for Health and Economy. The Health Care Choices Proposal also would modestly reduce the deficit, increase the number of…

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Wisconsin and New Jersey are Among the States Looking To Copy Minnesota Model Of Using Federal Funds To Lower Insurance Premiums

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Minnesota capitol

by Evie Fordham   Several states including Wisconsin and New Jersey are seeking to copy Minnesota’s model of federal reinsurance program funding that contributed to a 13-percent drop in premium rates in the state from 2017 to 2018. The Minnesota legislature adopted the program, which uses mostly federal funds to…

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