The cost of Obamacare coverage for individuals and families will rise an average 20.5% in Virginia next year, according to requests for new premium rates filed by health insurance companies.
That means it’s likely that more than a third of the nearly 415,000 Virginians now covered by individual Affordable Care Act policies will go without next year, a review of proposed rate increases by the State Corporation Commission Bureau of Insurance said.
The Bureau said premiums will rise by an average of 11.2% for people covered through Affordable Care Act small group policies.
The main reason for the rise in individual coverage is the end of the COVID-19 era enhanced premium tax credit, the Bureau said.
Read the full story in the Richmond Times-Dispatch.
