Health insurance plans from the Affordable Care Act marketplace are likely going to cost a lot more next year.
According to The Wall Street Journal, insurers are seeking double-digit rate increases in 2026 for Obamacare plans. The outlet reported that Blue Cross & Blue Shield of Illinois is asking for a 27% rate hike, while Blue Cross in Texas is looking to raise rates 21%. Under the largest ACA plans in Georgia, Rhode Island, and Washington state, premiums are set to climb more than 20%.
The insurance companies say that hefty rate hikes are necessary because of the rising cost of healthcare and changes to federal policy that cut consumer subsidies, which made the plans more affordable. About 24 million people are enrolled in ACA health insurance plans.
Clare Forry, 40, of Arlington Heights, Illinois, told the Journal that if her Blue Cross & Blue Shield plan jumps from its current monthly cost of about $590 a month to more than $700, it would be “pretty hard to grasp.”
“That’s some people’s mortgage payments,” the retail-industry manager said.
The federal subsidies passed by Congress in 2021 will expire in December, meaning that most Obamacare enrollees will see substantially higher monthly insurance bills next year.
Cynthia Cox, a vice president at health-research nonprofit KFF, told the Journal that some people are “going to be hit with this double whammy” of bigger monthly insurance bills and the loss of the subsidy that ensures they can pay them.
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Author: Dillon B
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