Bummer, that’s going to hurt.
One of the few remaining co-ops created from Obamacare is requesting rate hikes of 80 percent for next year, the Associated Press reported.
CEO of New Mexico Health Connections Martin Hickey said that not only will rates be likely raised to 80 percent next year, but that increasingly young, healthy individuals are dropping out from the exchange.
“Insurance providers have been left to guess whether the federal government will continue to pay subsidies for out-of-pocket expenses such as copayments and deductibles for lower-income patients,” the article said. “Requirements that taxpayers maintain coverage or pay a penalty are also in limbo.”
According to the superintendent of insurance, more detailed rate increases will be available later in June.