Monthly premiums will rise by an average of 8.7 percent next year for more than 1 million people in California who buy health insurance under former President Barack Obama's health care law.
The rate increases announced Thursday by Covered California are smaller than the double-digit increases seen in each of the last two years.
Covered California executive director Peter Lee says the boost would be closer to 5 percent if not for the decision by Congress and President Donald Trump to eliminate the penalty for people who fail to carry insurance coverage.
The penalty was credited with keeping rates down by driving healthier people into the market, but critics say nobody should be forced by buy a health plan.
The rates are subject to review by insurance regulators.
