Covered California announces increased rates of 12.5 percent for its 2018 health insurance plans

As reported by the Orange County Register:

Covered California on Tuesday announced that insurance rates will jump an average of 12.5 percent for next year, amid uncertainty about the future of Obamacare.

“Californians are paying about 3 percent more than they would have if not for the uncertainty,” said Peter Lee, executive director of the state’s exchange.

Additionally, Anthem Blue Cross will stop selling individual health plans in the Southern California market even as it continues to sell plans in parts of Northern and Central California.

“The uncertainty is also having an impact on plan participation,” Lee said. “It’s significant. About 153,000 of (Anthem Blue Cross) consumers will need to shop and change into 2018.”

Last year, rates increased an average of 13 percent statewide, a bigger jump than in 2015. This year, insurance companies were left in the dark as lawmakers pushed a bid to repeal Obamacare to the last possible minute before voting against such a move. …

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