By Nisqually Valley News staff
Health insurance premiums for those buying their own insurance plans are set to increase next year as Obama-era tax credits expire.
According to Sen. Maria Cantwell, D-Washington, the premiums in Lewis, Thurston and Grays Harbor counties will each increase by more than half.
Cantwell released a document late last week detailing the possible rise in insurance premiums across the state should the Enhanced Premium Tax Credits (ePTC) from the U.S. federal government be allowed to expire.
According to the document, individuals in Lewis County face the largest potential increase of the three counties mentioned with premiums set to rise by 81%.
The spreadsheet distributed by Cantwell’s team lists the expected premium increases for every county in the state along with how many residents are expected to be impacted by the increases.
In Thurston County, 6,851 residents are expected to be affected by a premium increase of 77%. About 1,689 residents in Grays Harbor County are expected to be affected by a premium increase of 62%.
In Lewis County, 2,221 residents are expected to be impacted. And while the increase in Lewis County is expected to be significant, it is not among even the five largest predicted increases.
Premiums in Adams, Chelan, Douglas, Ferry, Franklin, Grant and Yakima counties are expected to double at a minimum, according to the information provided by Cantwell’s office.
The tax credits are not set to expire until the first of next year, meaning more than two months remain until the hikes go into effect. Cantwell, however, added in the news release that while the hikes are months away, changes in premiums are important now as open enrollment for insurance policies begins Nov. 1.
“Congress has less than two weeks to act before Washingtonians and beneficiaries in most other states lock in these sky-high premium rates after open enrollment on Nov. 1,” Cantwell said. “I’m fighting to block these ruinous price hikes — the time to come to the table and find a solution is now.”
The current federal government shutdown began at 12:01 a.m., Oct. 1, as the U.S. Senate failed to pass a bill to continue funding the government. The continuing resolution bill which is used to continually pass government funding passed the House of Representatives but failed to clear the Senate where it needs a 60-vote majority to become law.
Both parties have since attempted to place blame for the shutdown on their opposition. Republicans have accused Democrats of crying wolf over the health care issue, saying the matter can be solved after funding the government.
Democrats, however, have shown little trust that the problem would be solved in time to prevent premium increase. Democrats in the Senate have instead said they will not negotiate on funding bills unless they include a provision for extending the tax credits or otherwise reducing insurance premiums.
