The cost of health insurance under the Affordable Care Act is expected to rise 25 percent for the plans in which tax subsidies are calculated, according USA Today.
The Department of Health and Human Services warned Monday that more than one in five people who use Healthcare.gov will only have one insurer to select coverage from.
NPR reports that federal subsidies will also rise, meaning that very few people will likely have to pay the full cost to get insurance after the rate increases.
Officials with the Department of Health and Human Services noted that most people who shop for insurance on Healthcare.gov will still pay less than $100 each month when tax credits are included. In addition, more than 70 percent of people will pay less than $75 each month after tax credits.
"We think they will ultimately be surprised by the affordability of the premiums, because the tax credits track with the increases in premiums," Kevin Griffis, with the Department of Health and Human Services told NPR.
Griffs said in a media briefing that these 2017 rates are roughly at the level the Congressional Budget office forecasted when the law was proposed.
Enrollment on Healthcare.gov opens Nov. 1. On average, consumers will have 30 plans to choose from.
Consumers seeking coverage that will take effect Jan. 1 must pick a plan by Dec. 15.
The last day to sign up for health insurance on the site is Jan. 31, 2017, although there are a few exceptions.
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