Health insurance premiums on the Affordable Care Act marketplace have risen an average of 12% for the 2026 plan year, marking the largest single-year increase since the exchanges launched.
Why Are Premiums Climbing?
Insurers cite rising prescription drug costs, increased utilization of GLP-1 weight loss drugs like Ozempic and Wegovy, and the expiration of enhanced subsidies from the Inflation Reduction Act as primary drivers.
The average benchmark Silver plan now costs $620/month for a 40-year-old nonsmoker, up from $554 in 2025.
States with the Cheapest Plans
- Minnesota: $380/month average
- New Hampshire: $405/month average
- Maryland: $418/month average
- Virginia: $425/month average
- Michigan: $440/month average
How to Save
Experts recommend shopping during the extended enrollment period through May 15, comparing plans across all metal tiers, and checking if you qualify for cost-sharing reductions.
