Significant Premium Hikes Expected Under Obama Health Law
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WASHINGTON (AP) - Expect insurers to seek significant premium increases under President Barack Obama's health care law for next year.
A wave of state-level requests will ripple across the country ahead of the political conventions this summer.
Insurers say the law's coverage has been a financial drain for many of them, and they're setting the stage for hikes that in some cases could reach well into the double digits.
In Virginia, nine insurers returning to the HealthCare.gov marketplace are seeking average premium increases that range from 9 percent to 37 percent.
The health law's subsidized insurance markets cover more than 12 million people nationwide. Going into their fourth year, they don't yet seem to have achieved stability.
The Obama administration says talk of premium increases is premature and overblown.
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