Obamacare premiums dropping 4% for 2020 plans
Obamacare premiums are dropping and more insurers are joining the program, but deductibles are continuing to rise.
(CNN) — Americans in most states will see their health insurance premiums drop next year — if they buy it on an Obamacare exchange.
Affordable care act premiums are dropping an average of 4% in 38 states — and 20 more insurers are joining the program.
It marks the second year of lower rates — and six states are seeing double-digit declines.
Trump Administration officials say requests they have approved from a dozen states to shield them from high cost patients through “re-insurance” is helping stabilize the market.
Many health care experts argue Obamacare is stronger because insurers have raised rates enough to make the exchange profitable. Premiums rose sharply for several years before they started correcting downward last year.
Deductibles are continuing to rise and three states are seeing double digit premium increases. People who make more than $50,000 do not qualify for federal subsidies that help keep premiums low.