Congressional Committee Sees Obamacare Hiking Premiums Up to 400 Percent

But the average should just be 100 percent

Prepare your wallet. Health premiums are set to rise by as much as 400 percent under Obamacare.

That's according to a new report from the House Energy and Commerce Committee released this week that uses information from the nation's largest health insurance companies to estimate the emerging costs of the Patient Protection and Affordable Care Act.

The findings: Health insurance premiums will rise, on average, by 100 percent, the Washington Free Beacon reported, but some could increase by 400 percent.

"The average yearly cost for a new customer in the individual market grows from $1,896 to $3,708 — a $1,812 cost increase," the report states.