Affordable Care Act marketplace premiums rise

Affordable Care Act marketplace premiums rise

LITTLE ROCK, AR (KAIT) - As open enrollment kicked off this week for the Affordable Care Act, those looking to enroll have experienced sticker shock as 2017 premiums of popular plans sold on rose an average of 25% over the last year, according to a Nov. 1 report by the Kaiser Family Foundation.

According to a story from Talk Business and Politics, Arizona consumers saw a whopping 145% premium increase compared to last year, while Arkansas reported a mere 1% increase.

Meanwhile, Oklahoma had a 67% higher premium, and Missouri's premiums rose 8%.

Those premium increases were based on rates given to a 40-year-old non-smoker earning $30,000 annually, according to the Kaiser report.

The 40-year old male in Little Rock would see a "Silver tier" premium of $314 for 2017, up $4 from the 2016 premium and includes no tax credit. With the tax credit the same individual's net cost will be $207 next year, $1 less than the $208 charged in 2016, according to the Kaiser data.

To read more about the changes, click here.

Copyright 2016 KAIT. All rights reserved.

Region 8 News App - Install or update on your: iPhone | Android