Press Release, WASHINGTON, D.C, October 28 – U.S. Sen. Lamar Alexander (R-Tenn.) today said that the 23 percent rate increase for Tennessee’s “benchmark” health care plan under Obamacare will “hurt those Tennesseans that this law was intended to help.”Alexander, chairman of the Senate health committee, continued: “Tennesseans who buy Obamacare’s ‘benchmark’ plan will see their premiums rise next year by 23 percent—that will put a dent in family budgets even though the president promised Obamacare would lower their health costs. Republicans are ready to reduce Tennesseans’ health insurance costs with plans to restore freedom to the insurance marketplace and allow individuals to choose health care plans that meet their budget.”
The Obama administration announced that the national average rate increase for the “benchmark” plan starting January 1, 2016, will be 7.5 percent. The “benchmark” plan is the second lowest-cost Silver plan offered on the Obamacare exchanges, and is used to determine the level of health care subsidies in a state. Tennessee is one of 19 states which will experience double-digit benchmark plan rate hikes next year.