Georgia marketplace rates surging next year

The Affordable Care Act may become a lot less affordable for thousands of Georgians. Premiums next year are set to soar by as much as 29% for people who buy their coverage under what's commonly known as Obamacare. Some experts point to the rising cost of health care, inflation, and technology. Fox 5's Christopher King spoke with experts and joins us now with the details. Christopher? Russ, more than 800,000 Georgians are covered under the Affordable Care Act, the average monthly premiums could rise to more than $900. Now, some experts worry that could force many Georgians to drop health care coverage altogether. Without the ACA, they would have no access to health care whatsoever. Dr. Cecil Bennett says about one in 10 of his patients buy health insurance through Georgia's Affordable Care Act marketplace. At least 10 or 15 percent. Open enrollment begins November 1st for Georgia's marketplace, commonly known as Obamacare. According to new numbers from the Office of the Commissioner of Insurance, premiums under the ACA are set to skyrocket next year, in some cases, as much as 29 percent. Some of my patients will no longer have health insurance. They just won't be able to afford it. The average premium could cost more than $900 a month. Well above the rate of inflation. David Howard is a professor at Emory's Rollins School of Public Health. The average rate of increase, again, is going to be in the double digits, you know, over 10%. Howard points to the rising cost of technology and medication. Weight loss drugs, the so-called GLP-1 inhibitors, that's driving premiums up. I've also heard that many hospitals and physicians are adopting AI software that is aimed at reducing denials from insurance companies. but that means that fewer claims get denied, more care is being used, and costs are going to go up. And he says healthier people in many cases opting out of the ACA exchange because COVID-era subsidies ended. The people who are dropping coverage tend to be healthier. And so when the remaining insurance pool is sicker, that means average cost rise and premiums go up. I doubt if the majority of my patients who are currently on the Affordable Care Act will be able to afford any health insurance. For the majority that depend on that plan, this is going to be a disaster. Now, some people will be able to qualify for subsidies if their income falls within a certain range. If their income does not fall within that range, it could be kind of pricey for many people. Experts urge you to consult a health insurance broker for more information to figure out your best option. We're live in Midtown. Christopher King, Fox 5 News. Being without health insurance is a real problem for a lot of people. Christopher, thanks.