October 12, 2017 04:09 PM
MILWAUKEE (AP) - Wisconsin insurance officials say average premiums will jump 36 percent for people buying health coverage through the federally run exchange.
The average increase for small groups buying coverage through the exchange is expected to be nearly 5 percent.
About 75,000 people will have to find new providers as three health care companies - Anthem, Molina and Health Tradition - leave the exchange.
The figures were released Thursday ahead of the enrollment period that begins Nov. 1.
Deputy Commissioner of Insurance J.P. Wieske attributed the rate increases to decreased competition and the assumption that the White House and Congress won't pay "cost sharing" subsidies that help cover deductibles and copayments for low-income consumers.
About 215,000 people are in the individual market. Wieske said those losing coverage have been notified by the insurers.
Gov. Scott Walker says the increases show that "Obamacare" is collapsing and that the changes championed by former President Barack Obama are not working to deliver affordable health care.
Walker says if federal officials don't repeal and replace the law, Wisconsin will seek greater flexibility from them to do what it can to lower costs for citizens.
Wisconsin's situation stands in contrast to Minnesota, where people who buy insurance through the state-run exchange face a 3 percent increase to a 13 percent decrease, on average.
Created: October 12, 2017 04:09 PM
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