Arizona officials warn that ACA health insurance premiums could skyrocket this year

PHOENIX — Arizonans who buy health insurance on the state’s Affordable Care Act marketplace should brace for major sticker shock during open enrollment this year.

The state agency that oversees insurers is warning of rate increases as high as 55.3%. But consumers will also end up paying a lot more for their plans because federal tax credits that offset the price of premiums are ending.

“They certainly are going to experience a price shock for how much more they’re going to have to pay for their health insurance premiums on a monthly basis,” said Matt McGough, a policy analyst at KFF, a nonprofit health policy research, polling and news organization.

The Arizona Department of Insurance and Financial Institutions says insurers have submitted proposed hikes ranging from about 2.5% to 55.3% for plans on the state’s marketplace.

Read the full story from ABC15 Arizona here.

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