Americans in the largest health insurance market could see their premiums double in price virtually overnight, depending on what Congress does over the next few days.

Politico reported Friday that hundreds of thousands of people in California could see a significant spike in their health insurance premiums at the end of the month, due to the possibility of both a federal government shutdown and a funding bill being passed without an extension of Affordable Care Act (ACA, or Obamacare) subsidies. When open enrollment begins in November, those buying health insurance in the Golden State could experience significant sticker shock should those subsidies not be renewed.

"It’s going to cause a lot of grief, a lot of anxiety," Martha Santana-Chin, who is the CEO of the L.A. Care insurance plan, told Politico. "Quite frankly, there’s not a whole lot we can do about that if people just simply can’t afford to pay."

Because the subsidies keep plans affordable, those subsidies expiring could lead to as many as 400,000 Californians — almost a quarter of all enrollees in the Golden State – dropping their health insurance plans over a matter of months. This would cause premiums for those still on their insurance to spike, as most people who drop their insurance are typically younger and healthier. With that population gone, the risk pool for insurers automatically becomes older and sicker by default.

https://www.rawstory.com/health-insurance-2674046316/