Pennsylvania Just Announced Trump Sabotage Will Cause Massive Surge In Premiums
Insurance premiums will soar an average of 30.6 percent thanks to Trump’s decision to stop paying premium subsidies.
Pennsylvania’s state insurance department announced Monday that health insurance premiums sold on the Obamacare exchange will surge by 30 percent because of Donald Trump’s actions to undermine the health care law.
Trump announced last week that he will end Obamacare insurance subsidy payments for low-income Americans.
Estimates showed that without the Trump sabotage, premiums would have only gone up by 7.6 percent.
“It is with great regret that I must announce approved rates that are substantially higher than what companies initially requested,” Pennsylvania’s Acting Commissioner Jessica Altman said in a statement.
“This is not the situation I hoped we would be in, but due to President Trump’s refusal to make cost-sharing reduction payments for 2018 and Congress’s inaction to appropriate funds, it is the reality that state regulators must face and the reason rate increases will be higher than they should be across the country,” Altman continued.
[image via White House live stream]
