The American people are going to continue to pay the price for the Republican Party's failure to repeal and replace. Obamacare premiums expected to go up again.
Next year, average benchmark premiums for Obamacare plans are expected to rise 15 percent more than they did this year, according to projections from the Congressional Budget Office.
"In 2018, the agencies project, the average benchmark premium will be roughly 15 percent higher than it was in 2017, largely because of short-term market uncertainty—in particular, insurers' uncertainty about whether federal funding for certain subsidies that are currently available will continue to be provided," the budget office explains.
Additionally, premiums for benchmark plans are expected to rise an average of 5 percent each year from 2017 through 2027.
Obamacare premiums skyrocketing!
The budget office projects that average premiums will total $3,400 for a 21 year old, $4,800 for a 45 year old, and $9,800 for a 64 year old this year.
How about those average premiums? A 21 year old will pay $3400 per year for insurance. That is absolutely insane. 21 year olds will be better served to just pay the fines that they get for not having insurance. Fined for not having insurance. Communism anyone?
Other issues seem to have pushed repeal and replace to the back of the line. It is super important for repeal and replace to happen soon. President Trump made this one of his key campaign promises and it's time to deliver.