He also called attention to the lack of competition on the exchanges. “One in five Americans trapped on ObamaCare will only have a single insurer to choose from, and boy are those insurers going to have a good time with you,” Mr. Trump said, according to The Hill.
After the news broke Monday, Jason Miller, Mr. Trump’s senior communications advisor issued a statement about the premium increases. “This shows why the entire program must be repealed and replaced,” he said.
HHS said the price hikes are transitional. “Through 2016, marketplace rates remained well below initial projections from the independent Congressional Budget Office, and well below the cost of comparable coverage in the employer market,” reads a statement from HHS about the report. “Adjustments this year reflect issuers bringing their rates in line with observed costs, now that two years of data are available,” the report said.
HHS also reported that 72 percent of consumers who buy health plans on the exchanges will be able to find a plan with a premium of less than $75 per month.
Editor’s note: This article was updated Oct. 26 at 3:15 p.m. to reflect that premiums on the exchanges will increase an average of 25 percent, not 22 percent. We apologize for this error.
More articles on leadership and management:
5% of Tennessee healthcare companies led by women
6 questions with new Intermountain Healthcare CEO Dr. A. Marc Harrison
7 professions where gray hair makes you more marketable
At Becker's 4th Annual CEO + CFO Roundtable, taking place November 2–5 in Chicago, more than 1,500 hospital and health system executives tackle decisions that determine whether organizations thrive or merely survive: protecting margins under cost pressure, choosing where to grow, renegotiating payer relationships, stabilizing the workforce and proving real ROI on technology. This is where leaders work through them together, face-to-face. Apply for complimentary registration now.
