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National

Obamacare costs set to sky rocket in 2017

Opening sequence

Opening sequence

National

Obamacare costs set to sky rocket in 2017

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COMING UP:Obamacare costs set to sky rocket in 2017

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Transcript

00:00:02
>> The average premium for Obamacare insurance plans will jump by 25% in 2017, the largest increase since the program rolled out four years ago. And though it carries Obama's name, it'll become a headache for the next president of the White House, Reuters reporter, Jeff Mason.>> That's a really big increase and it comes at sort of a politically tricky time right before the US election.
00:00:28
It'll be interesting to see if this gathers any traction on the campaign trail. Donald Trump is not doing well in the polls compared to his rival, Hillary Clinton. And if he's able to use this as a bit of evidence to support his claims that the system is bad, then that could have some resonance with voters in swing states.
00:00:50
>> In fact Trump, not missing a beat, criticizing Obamacare during campaign stop in the crucial state of Florida, Monday.>> It's over for Obama Care and Hillary Clinton wants to double down and make it more expensive.>> Large national insurers have said they're losing money under the Affordable Health Care Act, because patient's costs are higher than expected and enrollment lower than forecast.
00:01:16
Both United Health and Aetna have pulled out of the exchanges for 2017, leaving consumers with fewer options. While President Obama has accepted there are problems with the plan, he says Republicans are as much to blame.>> The Republicans generally oppose the system as a whole and want to repeal it.
00:01:36
And are not interested in making legislative changes that would alter or change or fix some of the issues that have cropped up.>> But the Obama administration says most consumers will still be able to find coverage for less than $100 a month with the help of federal subsidies.
00:01:54
Consumers who go without insurance next year could face possible fines of $700.