The Latest: Covered California rates to jump 13.2 per cent

SACRAMENTO, Calif. – The Latest on Covered California releasing rates for 2017 (all times local):

11 a.m.

Covered California says average monthly premiums will increase by more than 13 per cent next year for people who buy health care coverage through the state’s insurance exchange.

The increases released Tuesday are significantly higher than the 4 per cent increases in each of the last two years. They come as many other states report big increases in premiums for the fourth year of President Barack Obama’s health overhaul.

Covered California Executive Director Peter Lee says two large insurers, Anthem Blue Cross and Blue Shield of California, drove much of the average increase. He says consumers can limit the impact by changing health plans.

Customers have been more expensive to insure than initially expected. Provisions of the law that help insurers absorb the uncertainties are also expiring.

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12 a.m.

Covered California is preparing is preparing to release 2017 premium prices for people who buy health coverage through the state’s health insurance exchange.

Tuesday’s announcement comes as many other states report big increases in insurance premiums for the fourth year of President Barack Obama’s health overhaul.

Covered California sells insurance coverage to about 1.4 million people who don’t get coverage from an employer, Medicare or Medi-Cal.

Average premiums rose about 4 per cent in each of the last two years.

Insurers nationwide have been raising rates in the individual market as Obama’s health law matures.

Customers have turned out to be more expensive to insure than initially expected. Provisions of the law intended to help insurers absorb the uncertainties are also expiring.