WASHINGTON (AP) -- Many HealthCare.gov customers will face higher costs next year, the Obama administration acknowledged Thursday in a report that shows average premiums rising modestly.<br />
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However, officials said millions of consumers who are currently enrolled can mitigate the financial consequences if they are willing to shop around for another plan in a marketplace that's becoming more competitive.<br />
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Premiums for the most popular type of plan will go up an average of 5 percent in the 35 states where the federal government is running the health insurance exchanges, said a report from the Health and Human Services Department.<br />
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However, the administration says about two-thirds of current customers can still find coverage comparable to what they have now for $100 a month or less if they shop around. That estimate takes into account the tax credits that most consumers are entitled to, which cover about three-fourths of the cost of premiums on average.<br />
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Double-digit premium increases were common for people buying their own insurance before the passage of President Barack Obama's health care law.<br />
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The modest average increases the administration reported Thursday mask bigger price swings from state to state, and even within regions of a state. Some are still seeing double-digit hikes. But others are seeing decreases. And most are somewhere in the middle.<br />
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On the whole, administration officials say the market is more stable.<br />
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"In today's marketplace, (insurers) are competing for business," Health and Human Services Secretary Sylvia M. Burwell said in a statement. "Returning customers may find an even better deal if they shop and save."<br />
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The report said about 90 percent of customers will have a choice of three or more insurers this year, with each company usually offering a range of plans. That's a notable improvement from last year, when 74 percent of customers had similar options.<br />
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The most popular coverage is known as the lowest cost silver plan and will go up 5 percent next year.<br />
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Another key plan, the second-lowest cost silver, will go up an average of 2 percent.<br />
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Obama's health care law offers subsidized private health insurance to those who don't have coverage on the job. Online markets called exchanges provide different options in each state.
