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Insurance rate hikes sought in federal marketplace

10 months ago July 23, 2014 Jul 23, 2014 Wednesday, July 23 2014 Wednesday, July 23, 2014 1:38:44 PM EDT in News
Source: Associated Press
By: APNewsNow

BATON ROUGE - Thousands of people who bought health insurance through the marketplace created by the federal health care overhaul face price hikes next year that could reach double-digits.

More than 60,000 people who get health insurance through the individual marketplace - which was expanded by the federal Affordable Care Act - are in line for rate increases topping 10 percent on Jan. 1 if they keep their current policies.

That's according to paperwork filed with Louisiana's insurance department.

Louisiana Insurance Commissioner Jim Donelon says the average rate increase planned in the state's individual market for health insurance next year is about 12 percent to 13 percent.

Insurance officials say the increases are larger than the type of price hikes enacted annually before the federal health care law was put in place.

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