Obamacare unsustainable

LA Times: Premiums for Californians’ Obamacare health coverage will rise by an average of 13.2% next year — more than three times the increase of the last two years and a jump that is bound to raise debate in an election year.
The big hikes come after two years in which California officials had bragged that the program had helped insure hundreds of thousands people in the state while keeping costs moderately in check.
Premiums in the insurance program called Covered California rose just 4% in 2016, after rising 4.2% in 2015 – the first year that exchange officials negotiated with insurers.
On Tuesday, officials blamed next year’s premium hikes in the program that insures 1.4 million Californians on rising costs of medical care, including specialty drugs, and the end of a mechanism that held down rates for the first three years of Obamacare.