WASHINGTON (AP) — A new study says taxpayers will fork over nearly $10 billion more next year to cover double-digit premium hikes for subsidized health insurance under President Barack Obama’s law.
The analysis to be released Thursday by the nonpartisan Center for Health and Economy comes as the Republican-led Congress is preparing to repeal “Obamacare” and replace it with a GOP alternative. With incoming President Donald Trump likely to sign such legislation, historic coverage gains under the 2010 health law are at stake.
The study estimates that the cost of premium subsidies under the Affordable Care Act will increase by $9.8 billion next year, to $42.6 billion.
The average monthly subsidy will increase by $76, from $291 currently to $367.
The study’s findings could affect how Republicans design their replacement legislation.