Congressional Actions To Drive Up Obamacare Premiums

Congress was unable to agree to a bill that would repeal Obamacare but they took several steps in an attempt and weaken it. One Action was to add an amendment to the tax bill that repealed the individual mandate that individuals stay covered by health insurance. This move is expected to cause 3 to 4 million young healthy people to drop their health insurance which will cause the remaining insurance pool to get older and sicker. If this happens, premiums are expected to rise by 15 to 20 percent. For those who receive a tax subsidy to help pay their monthly premium, they will not feel the pain since the subsidy rises with the premium, but if you have private health insurance and do not receive a subsidy, prepare for sticker shock.