NEW REPORT: ACA Marketplace Plan Customers in 29 States Face a Health Insurance Premium Hike of 20% or More in 2026

NEW REPORT: ACA Marketplace Plan Customers in 29 States Face a Health Insurance Premium Hike of 20% or More in 2026

Cantwell tells Trump, Congressional leaders in a letter: "Unless Congress acts within the next few weeks, millions of Americans will collectively pay an estimated $23b more next year just to maintain the same level of coverage they currently rely on."; Case study: In King County, a family making $80k will pay $3,500+ more next year just to maintain their silver plan

WASHINGTON D.C. - Today, U.S. Senator Maria Cantwell (D-WA), senior member of the Senate Finance Committee and ranking member of the Senate Committee on Commerce, Science, and Transportation, released a snapshot report detailing the drastic increase in how much Americans who purchase health insurance on the open market will pay next year due to Congressional Republicans' failure to extend the Enhanced Premium Tax Credits under the Affordable Care Act (ACA).

The snapshot report, which includes information on premium increases across all 50 states and the District of Columbia, finds that the health insurance companies with the largest market share in 29 states will charge at least 20% more per month for care - further squeezing Americans already facing an affordability crisis. The report also found that in 20 states, the 2026 requested or final rate by that state's top exchange plan insurer will be at least 20 percentage points higher than how much that same insurer raised rates in 2025.

"Time is of the essence if we don't want to see double-digit increases in health insurance. Acting later is too late. The White House and Congress should address this now," Sen. Cantwell said.

Sen. Cantwell also sent a letter today to President Donald Trump, Senate Majority Leader John Thune, Senate Minority Leader Chuck Schumer, Speaker of the House Mike Johnson, and House Democratic Leader Hakeem Jeffries urging them to act before the open enrollment period begins on Nov. 1.

"I write to express growing concern over the looming health insurance affordability crisis that could affect the 24 million Americans who currently purchase health insurance on the marketplace exchange. Unless Congress acts within the next few weeks, these millions of Americans will collectively pay an estimated $23 billion more next year just to maintain the same level of coverage they currently rely on," Sen. Cantwell wrote. "Congress must immediately begin working with the Administration in a bipartisan, good faith effort if we are going to have any chance at extending these crucial credits in time for beneficiaries to decide whether or not they can afford health insurance next year."

The full snapshot report is available HERE; the full text of Sen. Cantwell's letter to President Trump and Congressional leadership is HERE.

According to Sen. Cantwell's snapshot report, insurers with the largest market share in the following states have announced or requested the highest spikes in health care premiums next year:

1. Arizona (Arizona Complete Health): 48.95%
2. Georgia (Ambetter of Peach State): 39.99%
3. Kansas (Celtic Insurance Co.): 39.97%
4. Texas (BCBS of Texas): 39.28%
5. Missouri (Ambetter of Magnolia): 38.98%
6. New Mexico (Health Care Service Corp (BCBS NM)): 38.67%
7. Florida (Centene Venture Company): 37.9%
8. Tennessee (Centene/Celtic): 37.21%
9. Kentucky (WellCare Health Plans of Kentucky): 37.02%
10. Nebraska (Medica Insurance Co.): 36.09%

Earlier this month, the Washington State Office of the Insurance Commissioner announced the 2026 rate increases for ACA marketplace enrollees in Washington state - next year, Washingtonianswill pay an average of 21% more per month for coverage, nearly double the rate increase from 2024 to 2025. Depending on the individual circumstances, that amount could be higher. For example, Sen. Cantwell's snapshot report found that a family of four living in King County state making $80,000 per year, the cost of a benchmark silver plan would increase by $297 per month without the enhanced premium tax credit extension. Their total cost would rise from $263 per month, or $3,160 per year, to $560 per month, or $6,720 per year.

President Trump signed Republicans' "Big Ugly Bill" into law in July. The bill included multiple provisions expected to drive up health care costs, including deep cuts to Medicaid, new hurdles to accessing coverage under the Affordable Care Act, and failure to extend the Enhanced Premium Tax Credits, which help subsidize health insurance for more than 214,000 Washingtonians and will expire at the end of 2025.

Sen. Cantwell convened stakeholders and small business owners in Spokane and Vancouver last month to raise the alarm about skyrocketing health insurance costs. Video of the press conference in Vancouver is HERE; video of the press conference in Spokane is HERE.

READ MORE:

• The Columbian: Sen. Cantwell, Vancouver Child Care Center Owner Urge Congress to Take Action to Save the ACA Tax Credits, Expansion
• The Spokesman-Review: Leaders and Policy Analysts Warn of ACA Insurance Costs Increasing to 75% Next Year, Potentially Impacting Thousands in Eastern Washington

Economists expect the increase will squeeze business owners - already facing uncertain futures thanks to President Trump's chaotic tariff wars - and force them to find ways to tighten their belts. Many individuals who purchase their own plans on the open market are likely to find themselves priced out of the market altogether, or forced to make deep cuts in their own household budgets to compensate. As an analysis from Kaiser Family Foundation, a leading national nonprofit focused on health care policy, notes, insurers anticipate that as some healthier members leave their plans when their subsidies decrease, that will "creat[e] an enrollee base that is less healthy and more expensive on average."

People without health insurance tend to wait until their health problem is an emergency before seeking care in local hospitals. This leads to more crowded emergency rooms for everyone. And hospitals must factor the uncompensated cost of additional uninsured patients into already strained finances.