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Expand chart
Data: Centers for Medicare & Medicaid Services; Chart: Harry Stevens/Axios

“Affordable Care Act premiums are going down” is a headline no one's ever seen before, so it’s no surprise the Trump administration is trying to take credit for the change.

Driving the news: The administration announced yesterday that premiums for a "benchmark" plan will drop by an average of 1.5% next year in the federally run ACA marketplaces — the first time that’s happened since it launched.

  • The fine print: This is the average premium for a 27-year-old single nonsmoker. Actual premiums will vary based on your age and where you live.

What they're saying: Seema Verma, the administrator of the Centers for Medicare and Medicaid Services, said premiums are lower because the Trump administration has approved several state reinsurance programs — and opened the door to cheaper options like short-term plans and association health plans.

Reality check: Reinsurance has almost certainly held premiums down. But short-term plans, like the nullification of the individual mandate, aren't contributing to lower ACA premiums. State regulators have said their premiums would be lower without those policy changes.

  • Insurers also priced a lot of those expensive policies into this year's premium hikes, which averaged out to a whopping 37%. Having those increases in the bank is part of the reason premiums can go down now.

Go deeper

Tina Reed, author of Vitals
2 mins ago - Health

Omicron gives a shot to boosters

Expand chart
Data: CDC; Chart: Will Chase/Axios

Vaccination rates have ticked higher since the discovery of the Omicron variant, CDC data shows.

By the numbers: The seven-day average for vaccinations in the U.S. reached about 1.8 million on Monday, up from an average of about 1.3 million a month ago.

Updated 13 seconds ago - Economy & Business

The billionaire balloon

Data: World Inequality Report 2022; Chart: Axios Visuals

The super-rich are getting stupid rich: New data out today shows the share of global wealth held by the richest slice of humanity swelled by almost a full percentage point during the pandemic.

Driving the news: The top 0.01% of individuals now hold about 11% of the world's wealth, compared to just over 10% in 2020, according to the "World Inequality Report 2022," written by Lucas Chancel, Thomas Piketty, Emmanuel Saez and Gabriel Zucman.

2 hours ago - Science

Exploding demand for laboratory space

Illustration: Brendan Lynch/Axios

Office occupancy rates remain deflated across industries, but one type of workplace is in high demand: labs.

The big picture: A number of trends — in public health, American demographics and venture capital funding — are colliding to supercharge the life sciences industry.

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