Rising Premiums Could Impact Many Idaho Families This Year

Idahoans have become spoiled when the national media turns its attention to the Gem State. Boise State Football, the housing market, convicted killers, and other topics have drawn the attention of national media outlets.

Today, a national outlet focused on Idaho reported that the news is not good. Have you ever read or heard of the publication called The Hill? If not, it is a daily platform covering news from the House, the Senate, and all branches of our national government from Washington, DC.

No, it had nothing to do with the government shutdown, which continues and doesn't seem close to ending soon. The story was a nonpartisan punch in the face for those who use Obamacare for their health insurance.

Open enrollment for next year's health coverage for the health exchange began in Idaho on October 15th. The Gem State was the first state to hold open enrollment. Currently, federal tax credits are expiring, which means the cost of health insurance will increase. How much? Stay tuned.

The credits helped offset the massive costs of healthcare for exchange users. Republicans and Democrats are arguing over extending benefits as part of their disagreements during the current government shutdown.

The Hill spoke to Your Health Idaho for the details:

"On average, gross premiums, or the overall cost of the premium, have gone up about 10 percent. And the net premium, or the amount the consumer pays after the tax credit has been applied, has increased about 75 percent," Pat Kelly, executive director of Your Health Idaho, told The Hill. 

Idaho experts told The Hill most Idahoans use an exchange expert to help them navigate the many small details of coverage plans.

The news is not all bad; if Congress reaches an agreement, some credits could be restored. We'll continue to update you on this story as it develops.