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Finding out what’s in it: According to a new report, the Obamacare subsidies that are paid to large number of Americans so that they can afford the costly Obamacare health insurance policies will cost taxpayers almost $10 billion in 2017.
The new study estimates that the cost of premium subsidies under the Affordable Care Act will increase by $9.8billion next year, rising from $32.8billion currently to $42.6billion. The average monthly subsidy will increase by $76, or 26 per cent, from $291 currently to $367 in 2017, researchers found.
Currently more than eight in ten consumers buying private health insurance through HealthCare.gov and state markets receive tax credits from the government to help pay their premiums.
Not only can’t we can’t afford the Obamacare premiums, we can’t afford the subsidies either.