Obamacare Rate Hike Dominates Campaign Trail

CHARLOTTE, NC — Two weeks until election day, and your health insurance premiums are front and center on the campaign trail. News that Affordable Care Act premiums are set to soar in 2017 could be a dominant issue in the final weeks of this campaign.

“Obamacare is just blowing up,” said Republican presidential nominee Donald Trump during an appearance in Florida Tuesday.

News that insurance premiums on Obamacare will rise an average of 25% on the federal exchange next year is hitting hundreds of thousands of people in the Carolinas right in the pocketbook.

It’s a steep jump from previous years. The 2017 premium on the benchmark Silver Plan will climb to $296 per month. And those who don’t have insurance next year could face tax penalties of $700 a person.

Donald Trump jumped on the news about the skyrocketing premiums in an appearance with employees of his Florida resort today.

“Obamacare has to be repealed and replaced and it has to be replaced with something much less expensive for the people,” said Trump.

So how did this happen?

After President Obama’s health care plan went into effect six years ago, insurance companies found that new enrollees were sicker, and cost more, than expected. That forced some insurers to raise premiums; or, like United Healthcare in North Carolina, to pull out of the state-based insurance exchanges.

North Carolina only has two insurers, Blue Cross Blue Sshield and Coventry, in its exchange. South Carolina only has one.

Hillary Clinton has said she would “defend” but “fix” Obamacare. Her husband, former president Bill Clinton, hammered home those words at a rally in Goldsboro, NC today.

“Hillary said, fix the problem, don’t repeal the solution,” said Clinton. “That’s a terrible idea. More than 20 million people would lose their health insurance.”

The White House says that while the 10.5 million Americans on Obamacare will be impacted by the rate hike, 85% of them will be eligible for some form of tax credit.