Arizonans worry about rising health insurance rates after Trump's decision to pull Obamacare subsidies

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(Source: 3TV/CBS 5) (Source: 3TV/CBS 5)
PHOENIX (3TV/CBS 5) -

Toni Bannister is a cancer survivor who is scared to death of not having health insurance.

The Phoenix mother is also worried her insurance premiums will skyrocket now that President Trump has pulled the plug on cost-sharing subsidies that help lower the price of health insurance for people enrolled in ObamaCare.

"It just can't happen," said Bannister. "I don't have that kind of money to be able to give for health insurance. I can't afford it."

But what exactly will the impact be following the president's decision to yank funding from the ObamaCare subsidies?

According to health experts:

*Insurers must continue providing the cost sharing discounts -- even though they won't be getting paid for them -- because the subsidies are required by the Affordable Care Act.

*Many enrollees won't have to pay much more.

*Middle-class consumers, who earn too much to get premium subsidies, could be hit with significantly higher insurance rates.

Will Humble is director of health policy with the University of Arizona. He said the two remaining health insurance providers in Arizona have already submitted their rates for 2018 so consumers shouldn't see a major rate hike until next year and insurance customers will still get the tax credits they qualify for.

"You buy a marketplace plan and it's at least silver or better, then you qualify for the advanced premium tax credit -- you still qualify for that -- he didn't take that away and he can't take that away without legislative action from Congress," said Humble.

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Jason Barry
Jason Barry has been reporting in the Valley since 1997.

Click to learn more about Jason.

Jason Barry

Jason Barry has been reporting in the Valley since 1997.

He is a nine-time Rocky Mountain Emmy Award winner who is best known for his weekly Dirty Dining reports, which highlight local restaurants with major health code violations.

Jason was born in Los Angeles and graduated from the University of Miami.

An avid sports fan, Jason follows the Diamondbacks, Cardinals and Suns with his wife, Karen, and son, Joshua.

His favorite stories to cover are the station’s Pay it Forward segments, which reward members of the community with $500 for going ‘above and beyond’ the call of duty to help others.

Jason, started his career at WBTW-TV in Florence, SC before moving to WALA-TV in Mobile, AL, was named the Associated Press Reporter of the Year in 2002.

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