Key Takeaways
If you have Marketplace health insurance, your premiums may get more expensive next year.
While not all insurers will raise their rates, it’s important to review your plan. Automatically renewing your current plan without checking for increases or comparing your options could cost you more money than it has to, saidMarilyn Serafini, executive director of the Health Program at the Bipartisan Policy Center in Washington.
What Are Health Premiums?A health premium refers to the cost you pay each month for health insurance coverage.It’s different than a copay—a small fee that you may need to pay at each healthcare visit—or a deductible—the amount you have to spend on care before health insurance kicks in for the year.
What Are Health Premiums?
A health premium refers to the cost you pay each month for health insurance coverage.It’s different than a copay—a small fee that you may need to pay at each healthcare visit—or a deductible—the amount you have to spend on care before health insurance kicks in for the year.
A health premium refers to the cost you pay each month for health insurance coverage.
It’s different than a copay—a small fee that you may need to pay at each healthcare visit—or a deductible—the amount you have to spend on care before health insurance kicks in for the year.
Why Are ACA Premiums Increasing?
Out of 324 insurer filings, 50 proposed decreasing premiums, but 85 requested premium increases higher than 10%, according to the KFF analysis.
Higher prescription costs—including the costs of hugely popular obesity drugs like Wegovy and Zepbound—are partially to blame for rising insurance prices, according to KFF.
Factors like hospital market consolidation, labor shortages, and the cost of hospital care are also driving insurers to require higher premiums. Inflation plays a role, too.
How Can You Reduce Your Monthly Health Insurance Premiums?
Depending on your income level, help is available to cover health insurance premiums.
People earning at least 100% of the federalpoverty levelmay qualify for a premium tax credit (PTC). This credit can either reduce your monthly premiums throughout the year or lower the taxes you owe when you file.
If your individual income is at least $15,060 for 2024, you’re likely eligible for this tax credit. If you earn less, you may qualify for Medicaid, which does not charge premiums, deductibles, or copayments.
The ACA policy you select determines how much money you can save with a PTC. There are four ACA tiers: bronze, silver, gold, and platinum. If you choose a lower-tier plan, you could pay nothing in premiums at all. If you choose a more expansive plan, you can use your PTC to lower the premium cost.
Are Other Types of Insurance Increasing Premium Rates, Too?
Medicare is expected to announce its 2025 rate increases on October 1. Employer-sponsored health insurance plans typically offer information about benefits for the upcoming year—including premium increases—around the same time.
What This Means For You
2 SourcesVerywell Health uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read oureditorial processto learn more about how we fact-check and keep our content accurate, reliable, and trustworthy.KFF.How much and why ACA Marketplace premiums are going up in 2025.Department of Health and Human Services.A quick guide to the Health Insurance Marketplace.
2 Sources
Verywell Health uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read oureditorial processto learn more about how we fact-check and keep our content accurate, reliable, and trustworthy.KFF.How much and why ACA Marketplace premiums are going up in 2025.Department of Health and Human Services.A quick guide to the Health Insurance Marketplace.
Verywell Health uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read oureditorial processto learn more about how we fact-check and keep our content accurate, reliable, and trustworthy.
KFF.How much and why ACA Marketplace premiums are going up in 2025.Department of Health and Human Services.A quick guide to the Health Insurance Marketplace.
KFF.How much and why ACA Marketplace premiums are going up in 2025.
Department of Health and Human Services.A quick guide to the Health Insurance Marketplace.
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