Nearly 400,000 Michigan Residents Brace for Obamacare Spike

Michigan residents are bracing themselves for double-digit increases in prices for individual plans on the state’s Obamacare exchange.

The sticker price for individual plans on Michigan’s Obamacare exchange is set to go up to 16.7 percent next year and will go into effect starting November 1, 2016, when open enrollment on Healthcare.gov begins again, the Detroit Free Press reported.

Most people in Michigan do not pay the full sticker price for Obamacare because of the tax credit subsidies available to those who qualify, which increase as the premiums increase.

This means that the cost of insuring people who get subsidies is ultimately shifted to the taxpayer.

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