Major Obamacare Premium Increases Announced for Next Year 📈

The administration confirmed Monday, premiums will go up sharply next year under President Barack Obama's health care law. Many consumers will be down to just one insurer. Days before a presidential election, that's sure to stoke another "Obamacare" controversy. According to a report from the Department of Health and Human Services, before taxpayer-provided subsidies, premiums for a midlevel benchmark plan will increase an average of 25 percent across the 39 states served by the federally run online market. Some states will see much bigger jumps, others less. Moreover, about 1 in 5 consumers will have plans only from a single insurer to pick from. Major national carriers such as UnitedHealth Group, Humana and Aetna have scaled back their roles.