Obamacare Premiums to Rise 25%

Healthcare premiums under the Affordable Care Act will see a double-digit hike in 2017, the Obama administration confirmed Monday. Premiums on a standard plan will increase an average 25 percent in the 39 states covered by the Healthcare.gov site. Healthcare recipients are also facing a drop in available plans, as carriers reduce their role in the federal healthcare plan. Consumers in Alaska, Alabama, Oklahoma, South Carolina and Wyoming will only have one insurance provider to chose from under the 2017 plan.

The announcement comes shortly before enrollment opens on November 1. Ted Cruz and other Republicans opposed to the Affordable Care Act have already used the premium hikes in their arguments to repeal the healthcare program.