More Pain Ahead for California's Exchange Consumers - Up to 28.6% Increases Coming!

Californians who buy coverage through the state's health insurance exchange better get ready for a dose of sticker shock: Average premiums next year will shoot up more than 13 percent statewide -- and could even double that in some parts of Northern California.

While consumers are growing weary about the rising costs of health care and specialty prescription drugs, there's a new culprit adding to the soaring rates for 2017 announced Tuesday: Two federal programs are expiring next year that were created to cushion insurers from losing money on low-cost, high-risk policies under the Affordable Care Act.

"We've known for a long time that 2017 would be a transition year,'' said Peter Lee, executive director of Covered California, the state's health exchange. "We are seeing that happening."

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