Health Plan Costs to Increase by an Average of 25%

Employee benefits consultant broker New Jersey

WASHINGTON — Premiums for midlevel health plans under the Affordable Care Act will increase by an average of 25 percent next year, while consumers in some states will find significantly fewer insurance companies offering coverage, the federal government said Monday.

But the Obama administration said three-fourths of consumers would still be able to find plans for less than $100 a month with the help of federal subsidies.

The open enrollment period under President Obama’s signature health law begins on Nov. 1, but consumers got their first look at their options on Monday. Consumers who go without insurance next year could face possible tax penalties of $700 a person or more.

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