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A newly released report from the Centers for Medicare and Medicaid indicates that premium hikes by insurers for coverage under the Affordable Care Act made policies unaffordable for about a million people. But despite that fact, more people actually paid premiums for coverage than last year.
As reported by the New York Times, the Centers for Medicare and Medicaid’s analysis on trends in subsidized and unsubsidized insurance found that about a million Americans dropped coverage, apparently thanks to the 20-percent-plus premium hikes—and they likely fall into the group of workers who make too much money to qualify for premium subsidies: those whose incomes are a little above the $48,000 poverty line. This group saw a 20 percent decline in enrollment, compared to just 3 percent among subsidized enrollees.
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