(Worthy News) – Insurers face a key deadline Wednesday to finalize contracts with states about how much they will charge customers who buy Obamacare plans.
Many of the largest insurers have decided not to sell plans on Obamacare’s exchanges at all, and many of those that are staying have filed rate increase proposals in the double digits. Those increases could go higher without payments the insurers expect to receive from the federal government, called cost-sharing reduction subsidies. Insurers say the pullouts and premium hikes are a result of uncertainty about the future of the healthcare law and financial losses.
The Trump administration has the authority to move the Sept. 27 deadline back, but it has not changed, according to a spokesman from the Department of Health and Human Services. [ Source (Read More…) ]