Average Obamacare premiums to rise 22 percent

Obamacare shoppers in most states will see premiums rise by 22 percent and have 36 percent fewer plans to choose from next year, according to insurance plan data released Monday by the Obama administration.

The buffet of 2017 plan options is decidedly smaller and pricier than in years past, prompting officials to stress the availability of federal subsidies for most consumers and the importance of shopping around for more affordable coverage.

When the Affordable Care Act's fourth enrollment season begins Nov. 1, consumers in the 38 states using the federal healthcare.gov marketplace will see median prices for the cheapest plans in the middle silver tier rise 16 percent. Average rates in those plans will rise by 25 percent and by 22 percent when factoring in three state-run marketplaces for which data were available.

There also will be a sharp reduction in insurer competition next year, as some of the country's largest companies have scaled back their marketplace participation or withdrawn altogether, under heavy financial losses from new enrollees.

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