Report: Obamacare premiums skyrocket as enrollee numbers plunge

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The average monthly premium for Obamacare’s benchmark, second-lowest-costing Silver plan is up 37 percent from the beginning of the year, as more health insurers opt not to participate in the marketplace, according to a Department of Health and Human Services report released this week.

The figure at the beginning of 2017 was up 24 percent from 2016 also, showing premiums have been rising steadily.

According to the report, in 2014, when Obamacare was first implemented, the premium for the benchmark plan totaled $218 for a 27-year-old. In 2018, that same premium is expected to rise to $411.

Premiums are also increasing by 17 percent for Obamacare’s lowest-cost plan. The report finds that fewer and fewer enrollees will have access to a plan that costs less than $200 a month.

“The percentage of current enrollees with access to a plan for $200 or less decreased from 16 percent for plan year 2017 to 6 percent to plan year 2018,” the report states. “If enrollees were to stay within their current metal level, only 2 percent will have access to coverage with premiums of $200 or less for plan year 2018.”

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