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Obama Brushes Aside "Handful" (2.2M) Facing Premium Hikes Without More Subsidies

- November 3, 2016

While Campaigning For Clinton, President Obama Says Premium Spikes Will Only Affect "A Handful Of People." OBAMA: "Because premiums are going up, its true premiums are going up for a handful of people that don't get tax credits." (President Obama, Remarks While Campaigning For Hillary Clinton, Miami, Florida, 11/3/16)

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Despite The Obama's Claims, In 2016 Roughly 2.2 Million People Did Not Receive Subsidies

In 2016, Roughly 2.2 Million People Enrolled In ObamaCare Did Not Receive Subsidies. "Most enrollees have low or moderate incomes, a recurring theme in the third year of the ACA's exchanges. Nearly 83%, or 10.5 million of the 12.7 million exchange members, received the law's premium subsidies, according to HHS." (Bob Herman, "Vast Majority Of ACA Enrollees Still Receiving Subsidies," Modern Healthcare, 3/11/16)

In Late October, The Obama Administration Announced 2017 Premium Hikes Averaging 25 Percent For The Federal Exchanges Benchmark Silver Plan. "For 2016, the benchmark plan's premium rose only 7.2%, on average, for the states that use healthcare.gov. (Looking only at states on the federal exchange, premiums are rising 25% for 2017.)" (Tami Luhby, "Obamacare Premiums To Soar 22%," CNN, 10/24/16)

"Significant Spikes In Premiums, Insurer Dropouts And Persistently Low Enrollment Numbers Are Combining To Make This Fall's Sign-Up Period A Crossroads For The Obama Administration's Signature Health Law." (Louise Radnofsky And Stephanie Armour, "U.S. Health Law Faces Critical Year," The Wall Street Journal, 9/7/16)

  • High Premium Spikes Show The Enormity Of The Challenges Facing ObamaCare. "Finalized rates for big health insurance plans around the country show the magnitude of the challenge facing the Obama administration as it seeks to stabilize the insurance market under the Affordable Care Act in its remaining weeks in office." (Louise Radnofsky, "Rate Increases For Health Plans Pose Serious Test For Obama's Signature Law," The Wall Street Journal , 10/18/16)

A HealthPocket Analysis Of ObamaCare Cost Increases For 2017 Found That Premium Increases Could Disproportionately Affect Older Americans. "HealthPocket found that the percentage of monthly income needed to pay the average unsubsidized Obamacare premium can present considerable financial challenges to older adults. For example, when examining an individual who makes $48,000 annually (just above the $47,520 cut-off for individual premium subsidy eligibility in 2017) 60 year-olds would need to spend 22% of their income to afford the average silver plan premium while 30 year-olds would only need to spend 9%."("Aging Consumers Without Subsidies Hit Hardest By 2017 Obamacare Premium & Deductible Spikes," HealthPocket, 10/26/16)


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