7 Reasons Your Obamacare Premium Could Soar by a Double-Digit Percentage in 2018
In just over five weeks, open enrollment for the Affordable Care Act (ACA), which is best known as Obamacare, will begin. The upcoming enrollment period could very well rival the first enrollment period (Oct. 2013 – March 2014) as the most challenging yet, given the uncertainties surrounding what might happen to now-former President Barack Obama's hallmark healthcare legislation.
Currently, Republicans are working on last-ditch efforts to repeal and replace the ACA before October 1. Once the new fiscal year hits for the federal government, the possibility of using reconciliation as a tool to repeal Obamacare will come off the table until around March of next year. Reconciliation allows lawmakers to pass bills that have a direct impact on the federal budget with a simple majority vote (51%) as opposed to getting the required 60% of votes needed to make a repeal and replace of Obamacare permanent. Should the ACA be repealed via reconciliation, the new law would sunset in 10 years, reinstituting Obamacare.
Image source: Obama White House via Flickr.
Source: Fool.com
