If you live in Mississippi you have a little something to celebrate. Health Insurance premiums in the individual marketplace are supposed to go down by an average of 0.2%. If you live in every other state in the union you arenâ€™t so lucky and can expect premiums to increase. In some states the average increase will be a whopping 30%, according to a new premium tracker released by Freedom Partners.
In most states, health insurance premiums on the individualÂ marketplace are rising by double digitsÂ under Obamacare. 17Â states will face average premium increases of 20 percent or more. Iowans, for instance, will see their premiums spike by 22 percent this year. In Minnesota, Alaska, Tennessee, and Hawaii, rates will rise by 30 percent or more.
In New York the average increase is 6%, but thatâ€™s just for premiums in the individual marketplace. I just found out that what I pay for health insurance through my job is going up by $100 per pay period, which is a lot more than 6%.
Follow the link to see how bad 2016 will be in your state. Be sure youâ€™re sitting down first if youâ€™re in Minnesota.