(Bloomberg) -- Health care plan premiums will rise an average of 4.2 percent next year in California’s insurance exchange, the largest Obamacare market in the U.S., state officials said.
The increase is considered low by officials at Covered California, the authority that runs the state’s exchange, who said many customers would see a decrease or no change. Californians saw premium increases this year, the first year plans were available under Covered California and other exchanges, that averaged as much as 88 percent, according to the state insurance department.
Premiums for health plans under the Patient Protection and Affordable Care Act loom as a key issue in 2014 congressional elections and are a practical concern for insurers. Large premium increases risk chasing off the healthy customers needed to balance the cost of covering the sick.
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