You are here:HomeNews CenterInsurance News2016Some Health Plans to Increase by an Average of 25 Percent

Some Health Plans to Increase by an Average of 25 Percent

The Obama administration announced average increases for mid-level plans in 2017.
October 26, 2016

The Obama administration announced on Oct. 24 that premiums for mid-level health plans under the Affordable Care Act will increase by an average of 25 percent in 2017, up from 2 percent in 2015 and 7 percent this year. In addition, one in five consumers on will find only one insurer with offerings next year, said the administration.

The average monthly premium for a benchmark plan for a 27-year-old consumer would be $302 next year, up from $242 this year, according to a report from the Department of Health and Human Services. However, three-fourths of consumers would still be able to find plans for less than $100 a month with the help of federal subsidies.

In Raleigh, N.C., for instance, a 53-year-old man with an annual income of $25,000 could obtain a subsidy of $639 a month, reducing his premium to $75 a month, or $900 a year. But for a man of the same age with an annual income of $53,000, the cheapest midlevel silver plan will cost $714 a month, or $8,568 a year, according to the federal website, and no subsidy would be available.