Premium hikes expected under Obama health law

ASSOCIATED PRESS: Insurers are expected to raise premiums to deflect financial drains resulting from the health law.

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For example, in Virginia, a state that reports early, nine insurers returning to the marketplace are seeking average premium increases that range from 9.4 percent to 37.1 percent. Those initial estimates filed with the state may change.

More than 12 million people nationwide get coverage though the health law’s markets, which offer subsidized private insurance. But the increases could also affect several million who purchase individual policies outside the government system.

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