Another round of premium hikes: blame Trump or Obama?
WASHINGTON — Another year of big premium increases and dwindling choice is looking like a distinct possibility for many consumers who buy their own health insurance — but why, and who’s to blame?
President Donald Trump has seized on early market rumbles as validation of his claim that “Obamacare” is a disaster, collapsing of its own weight. Democrats, meanwhile, accuse Trump of “sabotage” on a program he’s dissed and wants to dismantle.
It’s more complicated, say some independent experts. Trump inherited some problems and risks making things worse.
Many insurers in the subsidized markets created by the Affordable Care Act are still struggling to overcome financial losses. The cost of care for their new customers turned out higher than expected, a fundamental factor driving premiums higher and nudging some insurers to the exits next year.