Obamacare Headed for COLLAPSE – Premiums Set to Skyrocket 25%

Lame duck Obama’s “signature achievement” will go down in history as a colossal failure as insurance companies drop out of the program and premiums go through the roof.

McClatchey Reports

The Obama administration said Monday premiums for Obamacare will increase by an average of 25 percent next year.

The Department of Health and Human Services said each of the 39 states currently served by the federally run online insurance exchanges will experience different price hikes. Three large insurers have decreased participation in the Obamacare marketplace, which will leave one in five consumers with only one insurance plan to chose from.

There will be 28 percent fewer insurance companies participating in the exchanges, with only 167 available, down from 232. More than 10 million people buy insurance through HealthCare.gov, and many get financial assistance.

The administration says those subsidies available to customers under the Affordable Care Act will prevent them from footing the entire bill on their own, and that cheaper plans will be a bargain. Changing insurance company can require patients to change doctors and medications.