'It's Over for Obamacare,' Trump Says of Big Hike in Premiums

Republican presidential candidate Donald Trump jumped on news that average premiums under Obamacare will jump sharply -- by 25 percent in popular plans before taxpayer subsidies kick in.

"It's over for Obamacare," Trump said at a campaign rally in Tampa, Florida, tonight.

Americans are going to experience "double-digit increases" in premium costs under the plan, he said.

"Hillary Clinton wants to double down and make it more expensive and it's not going to work," Trump said. "Our country can't afford it, you can't afford it."

The GOP nominee said that his plan includes "repealing and replacing Obamacare" and would deliver "great health care at a fraction of the cost."

The Obama administration is emphasizing that subsidies provided under the law, designed to rise with premiums, will protect most customers from the sharp rise in premium costs and that consumers willing to switch to cheaper plans will still be able to find bargains, according to the Associated Press.

"Headline rates are generally rising faster than in previous years," said U.S. Department of Health and Human Services spokesman Kevin Griffis. But for most consumers, "headline rates are not what they pay."