Illinois Exchange Premiums Rise by Double-Digits for 2017 Plans

Most Illinois residents get health care coverage through their employers or government programs such as Medicare or Medicaid. But this year, more than 300,000 Illinoisans bought insurance on the Obamacare exchange.

In Illinois, rates will increase by an average of 44 percent for the lowest-priced individual bronze plans, 45 percent for the lowest-priced silver plans and 55 percent for the lowest-priced gold plans. Higher-level plans, such as gold plans, typically have higher monthly costs and lower out-of-pocket costs than lower-level plans.

In Illinois, a 27-year-old who buys the second-lowest price silver plan on the exchange will pay an average of $298 a month before tax credits — a 43 percent increase over this year. A family of four in Illinois will pay an average of $1,078 a month for the second-lowest price silver plan before tax credits.

There are also far fewer plans to compare. In Cook County, individual consumers will have 38 plans to choose from, down from 71 plans this year. In Lake County, there are 18 plans, down from 49 this year. McHenry County went from 42 plans to 14, DuPage from 48 to 34 and Kane from 48 to 25.

The federal government, however, says with the help of tax credits, 60 percent of Illinois residents who buy on the exchange will still be able to choose plans costing no more than $100 a month.