Obamacare Premiums to Rise Sharply

The cost of health insurance under the Affordable Care Act is expected to rise an average of 22 percent in 2017, according to information released by the Obama administration Monday afternoon.

Still, federal subsidies will also rise, meaning that few people are likely to have to pay the full cost after the rate increases to get insurance coverage.

Obamacare premiums are on track to rise faster than ever before in 2017. The Obama administration released data Monday showing that premiums for midlevel plans will rise, on average, 22 percent between 2016 and 2017.

Yes, that is a huge increase. Last year premiums went up by 7.5 percent.