The infamous Affordable Care Act, signed into law by President Obama in 2010, is becoming less affordable by the minute. Those with health insurance have already seen their monthly premiums doubling or even tripling in certain cases. To make matters worse, big health insurance companies like Aetna, Humana, and UnitedHealth Group no longer want to participate in the Healthcare Exchange. This means that consumers will have fewer insurance options to choose from in 2017, which will result in bigger monthly premiums. For many consumers, they will only have one insurer to choose from.
This news comes at a pivotal time for Democratic presidential nominee Hillary Clinton with just 15 days left until Election Day. One of the biggest criticisms people have about Clinton is that she is going to sustain Obamacare and keep it going. As for Republican presidential nominee Donald Trump, he has consistently said throughout the course of his presidential campaign that he’s going to repeal Obamacare. So, with the recent news about premium increases, this could be just what Trump needs to regain momentum in this critical presidential race.
On November 1st, consumers can begin to sign up for their 2017 health insurance plan through the Healthcare.gov marketplace. Once they see there are few insurers and huge premiums, it may persuade them to vote Republican on Election Day which is on November 8th. That is why Republicans are going to double down on this issue from now until Election Day. It may not only help them win the presidency, but also the various races going on in Congress as well.
The good news for low-income people is they’ll still be able to receive subsidies where the government pays for most or all of their monthly premium.