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1 Million More People Predicted to Sign Up for Obamacare in 2017

By:
Kerry Close
2 min read
One million more people will enroll in Obamacare by 2017, the government says. - Dan Dalton—Getty Images/Caiaimage
One million more people will enroll in Obamacare by 2017, the government says. Dan Dalton—Getty Images/Caiaimage

The U.S. Health and Human Services Department said Wednesday that it expects a million more people to sign up for Obamacare in 2017 compared to this year.

The department predicts that 13.8 million people will sign up for health insurance on Obamacare exchanges in 2017, compared to 12.7 million this year, Reuters reports. Average monthly enrollment will also increase to 11.4 million people, up from 10.5 million in 2016.

That's despite the fact that Obamacare costs is rapidly becoming less affordable. Though the Affordable Care Act has already given coverage to 20 million Americans since it was passed into law, in recent months several major insurance companies have pulled out or drastically scaled back coverage, saying it's too difficult to turn a profit. Those who remain are asking for steep price increases.

Read More: 8 States Where Obamacare Rates Are Rising by at Least 30%

That will force many Americans to give up their coverage and find another plan -- likely one that's a lot more expensive than their current plan. An estimated 1.4 million Americans in 32 states will lose their current Obamacare plan next year due to insurers pulling out of the exchanges.

And the news isn't good for those who remain: Obamacare customers in many states have been told to expect big jumps in premiums next year. In Michigan, for instance, state officials approved price hikes on average of 16.7% for people purchasing health insurance through the state's Obamacare exchange in 2017. Meanwhile, individuals can expect average increases of 20% in Colorado and price jumps between 19% and 43% in Iowa in the coming year.

Open enrollment for the health exchange starts November 1.

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