California Healthline reports that Covered CA chose to raise rates an additional 12.4% (weighted average) on Silver plans. This action is due to uncertainty about the Trump Administration continuing to fund the cost-share reduction subsidy.
In August, Covered California announced that 2018 premiums would rise by 12.5 percent, on average, statewide. That ticked down slightly to 12.3 percent during regulatory review. But the exchange also warned that the additional increase, averaging 12.4 percent, would be added to the silver-tier plans if President Donald Trump failed to commit to continued funding for the so-called cost-sharing subsidies that help reduce some consumers’ out-of-pocket expenses. Those payouts total about $7 billion this year nationwide.California Healthline Article
Stay tuned for more updates and information regarding 2018 California health insurance.
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