Connecticut
Obamacare Premiums 2027 Expected to Rise Again as Insurers Propose Rate Hikes
Health insurance premiums are likely to grow more expensive next year for those who buy Marketplace plans, after increases this year. Affordable Care Act Marketplace insurers are proposing a median premium increase of 14% for 2027, which would be a…
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Key points
- Health insurance premiums for ACA Marketplace plans are projected to rise by 14% in 2027.
- The increase follows a trend of growing premiums and a decline in enrollment.
- Factors such as the expiration of enhanced subsidies and rising healthcare costs are driving the price hikes.
NewsWK — Health insurance premiums for individuals purchasing plans through the Affordable Care Act (ACA) Marketplace are anticipated to increase significantly in 2027. A recent analysis reveals that insurers are proposing a median premium hike of 14%, marking a second consecutive year of double-digit increases.
ACA Marketplace Premium Increases Analyzed Across Multiple States
According to a report released by the Peterson Center on Healthcare and KFF, the analysis examined proposed rate changes from 77 insurers operating in 16 states and Washington, D.C. These states include Connecticut, Hawaii, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, Minnesota, New York, Oregon, Rhode Island, Texas, Vermont, and Washington.
The majority of insurers are suggesting premium increases ranging from 10% to 20%, with 20 insurers indicating hikes of more than 20%. Notably, none of the insurers analyzed proposed a decrease in premiums.
Key Factors Behind the Affordable Care Act Premium Rise
Several factors are contributing to these increases, including the expiration of enhanced premium subsidies and rising healthcare costs. Specifically, many individuals with incomes exceeding 400% of the federal poverty level—approximately $63,000 for a single person—have lost financial support, leading to higher out-of-pocket expenses.
This situation has resulted in a decline in ACA Marketplace enrollment, with 2.6 million fewer Americans participating compared to the previous year, as reported by the Associated Press. As insurers adjust their rates, final decisions are expected later this summer following submissions to state regulators by July 15.
Based on reporting by Nada Hassanein originally published by Stateline. Read the original story.
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