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Obamacare: Double-digit premium hikes on way

(CNBC) — Come 2017, thousands of New York’s Obamacare users will wake up to double-digit premium hikes, the latest group of consumers affected by Affordable Care Act cost increases as insurers hemorrhage money from healthcare exchanges.

In a statement on Friday announcing 2017 premiums, NY’s Department of Financial Services (DFS) said after weighing insurer requests, the state settled on an average hike of 16.6 percent for individual exchange users in the state, while small group users will see a lower average increase of over 8 percent.

Overall, about 350,000 individual plan consumers will be affected by the price hike, while more than a million users will be hit by higher small group fees.