Ranking Member Markey Spotlights How Trump’s Reckless Policies are Skyrocketing Health Care Costs for Small Businesses, Families

New data shows Trump's unaffordable policies are exacerbating the nationwide health care crisis

(Washington, May 6) - Ranking Member Edward J. Markey (D-Mass.) today spotlighted new data showing that President Trump and MAGA Republicans' reckless policies are skyrocketing the cost of health care for America's small businesses, workers, and families.

According to Co-Equal, small group employer-sponsored annual health insurance premiums in 2026 increased on average by at least $500 for single coverage and at least $1,000 for family coverage in almost every state. After Trump and MAGA Republicans eliminated enhanced premium tax credits last year, small business owners with Affordable Care Act (ACA) Marketplace coverage who received a tax credit in 2025 are paying $3,150 more in annual premiums in 2026. In 2025, Ranking Member Markey released data showing that more than 4.2 million small business owners relied on enhanced premium tax credits to access affordable, comprehensive health care, including nearly 60,000 small business owners in Massachusetts.

"Trump's health care affordability crisis is coming into sharper focus, and the prognosis is catastrophic for America's small businesses. Small business owners don't have many places to turn to get quality, comprehensive, and affordable health insurance coverage for themselves, their families, and their workers. Yet, Trump's reckless refusal to extend enhanced premium tax credits, combined with his tariff taxes and his war of choice on Iran which has caused astronomical prices at the pump, has directly led to higher costs across the board. It is time for the Trump administration to end its war on Main Street and deliver real relief to small businesses, workers, and families."

The new data from Co-Equal underscores how Trump's unaffordability crisis is turning Main Street into Pain Street:

• In 2026, small group employer-sponsored health insurance annual premiums have increased on average by at least $500 for single coverage in 44 states and $1,000 for family coverage in 47 states compared to 2025.
• • In Massachusetts, single coverage increased $1,230 and family coverage increased $3,340, on average - up 11% from 2025.
• Across all states, the average annual cost of small group single coverage in 2026 is $9,333 and the average annual cost of small group family coverage is $26,187.
• • In Massachusetts, the average cost of single coverage is $12,570 and the average cost of family coverage is $34,190.
• Small group premiums have increased by more than 16% on average in Maine, Delaware, Nebraska, New Mexico, North Carolina, New Jersey, and Rhode Island.
• Trump's refusal to extend premium tax credits last year means small businesses are paying significantly more for ACA Marketplace coverage in 2026.
• • Small businesses with ACA Marketplace coverage who received premium tax credits in 2025 are paying $3,150 more this year.
  • In Massachusetts, these small businesses are now paying $1,450 more.
• ACA Marketplace premiums have increased by more than 30% for small businesses in Wyoming (up $7,330), Louisiana (up $5,130), Nevada (up $4,890), New Hampshire (up $2,990), South Dakota (up $4,700), Tennessee (up $4,170), Mississippi (up $3,560), Arkansas (up $4,410), Texas (up $3,560), Virginia (up $3,090), Rhode Island (up $2,760), Florida (up $3,850), Alabama (up $3,720), Georgia (up $3,340), Ohio (up $2,980), Kansas (up $3,320), Missouri (up $3,580), and South Carolina (up $3,040).

Ranking Member Markey is fighting hard to deliver real relief to Main Street and communities nationwide by pushing back against Trump's policies that raise costs for everyday Americans and small businesses.

• Last week, Ranking Member Markey introduced the Investing in the American Dream Act to restore previous Small Business Administration (SBA) citizenship eligibility rules, which the Trump administration had rolled back, to include small business owners that are legal permanent residents, including green card holders, asylees, and refugees. On Friday, Ranking Member Markey met with immigrant entrepreneurs, SBA lenders, and chambers of commerce in Boston to hear firsthand how the Trump administration's policies are hurting small businesses and the Massachusetts economy.
• In April, Ranking Member Markey called on the largest retailers and shippers in the United States again, urging them to pass tariff refunds on to consumers and small businesses that bore the brunt of Trump's illegal International Emergency Economic Powers Act (IEEPA) tariffs, which were struck down by the U.S. Supreme Court in February.
• Earlier in April, Ranking Member Markey wrote to Acting Commissioner of the U.S. Bureau of Labor Statistics (BLS) William Wiatrowski to once again demand transparency from BLS on the economic impact of Trump's illegal war on Iran. Ranking Member Markey had previously released new data on how Trump's illegal war on Iran is hurting American small businesses, families, and workers at the pump.
• Also in April, Ranking Member Markey highlighted one year of Pain on Main Street caused by Trump's so-called "Liberation Day" tariff taxes, which cost American small businesses, consumers, and families more than $230 billion in one year. Ranking Member Markey had previously called on the Trump administration to develop an automatic tariff refund process in August.
• In December, Ranking Member Markey sounded the alarm about higher health care costs in 2026 for small businesses following Trump's refusal to extend enhanced premium tax credits for ACA Marketplace enrollees.

Permalink: https://www.sbc.senate.gov/public/index.cfm/2026/5/ranking-member-markey-spotlights-how-trump-s-reckless-policies-are-skyrocketing-health-care-costs-for-small-businesses-families