‘Obamacare’ set to become less affordable

Americans shopping for Affordable Care Act insurance are in for some sticker shock. Premiums are set to rise by nearly 30% on average – unless the Republican-led Congress agrees to extend the enhanced health insurance tax credits, the key sticking point in the ongoing government shutdown.

Those enhanced premium tax credits currently cap how much people on the exchanges pay for coverage at 8.5% of their income, but they’re scheduled to expire at the end of the year.

Open enrollment for ACA marketplace plans begins November 1, but will consumers be able to afford coverage? Some economists estimate that as many as two million people could lose their insurance next year due to higher prices. Insurers also fear that younger, healthier enrollees may opt out, leaving an older and sicker pool of participants, which would drive costs even higher.

On this episode, we’ll explore what’s behind the rising insurance rates and how it’s impacting Americans.

Guests:

Julie Rovner – chief Washington correspondent for KFF Health News

Devon Trolley – executive director of Pennie, Pennsylvania’s Obamacare marketplace