The increase is driven by a rush of medical claims and hospitals that want large payments from insurers after weathering high costs for labor and supplies, said health care industry analysts.
“President Biden may be saying one thing, but his policies are doing the exact opposite,” House Energy and Commerce Committee Chairwoman Cathy McMorris Rodgers, Washington Republican, told The Washington Times. Aon, a health benefits consultancy, estimates that average costs for U.S. employers that pay for their workers’ health care will increase 8.5% to more than $15,000 per employee in 2024.
Federal subsidies, meanwhile, will act as a cushion against higher rates in the Obamacare marketplace. Consumers who use the program can find health plans on the federal HealthCare.gov website or state-managed portals., expect a median proposed premium increase of 6% among 320 insurers participating in the Obamacare marketplace in 50 states and the District of Columbia.
Roughly 18.2 million people buy health insurance on their own in the individual market, the highest level since 2016. Nearly 16 million of these customers get their insurance through an Obamacare portal and about 14.3 million of them get federal subsidies to help them pay for coverage. “Rates on the [Obamacare] exchange remain very affordable for consumers — in 2023, four out of five HealthCare.gov consumers were able to select a plan for under $10 per month during open enrollment, and, while 2024 rates are not yet final, we anticipate plans to be similarly affordable,” the agency said.
Health Health Latest News, Health Health Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ActionNewsJax - 🏆 436. / 53 Read more »
Source: WOKVNews - 🏆 247. / 63 Read more »