NEWS: Covered California Premiums To Rise Nearly 9 Percent
Believed to mainly be the result of the removal of the federal insurance mandate penalty, Covered California consumers will see an almost 9 percent increase in premium costs, reports Sammy Caiola of California Public Radio. With about 1.4 million already covered under Covered California, it’s believed that up to 262,000 consumers will be leaving the market, driving up premiums for those remaining. Caiola reports that the 9 percent increase will have the largest impact on Covered California consumers who do not receive government subsidies, which is about 12 percent.
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