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Health Insurance Premium Went Up? Here's What You Can Do
A renewal increase doesn't mean you're stuck -- it means it's a good time to actually compare what's available now.
A higher premium at renewal can come from several different things -- your specific plan's rate change, your area's benchmark plan shifting, a subsidy change, or simply getting a year older. The number on the notice doesn't tell you which one it is, and it doesn't mean a better option isn't available.
A few real reasons premiums move at renewal
Insurers can adjust rates each year, benchmark plan pricing in your county can shift, your household's estimated income for the new year affects your subsidy, and age-based rating can increase cost independent of anything else changing.
- Your specific plan's own rate change for the new year
- A shift in your county's benchmark Silver plan pricing, which drives subsidy math
- Getting a year older, which affects premium under ACA age rating
- A household income change you may not have updated yet
During Open Enrollment, you can simply compare and switch
If it's Open Enrollment (typically November 1 - January 15 in most states), you don't need a qualifying event -- you can compare current plan options and switch for the new plan year without any special circumstance.
Outside Open Enrollment, a Special Enrollment Period may still apply
If Open Enrollment has already passed, whether you can still make a change depends on whether something else in your situation qualifies you for a Special Enrollment Period -- worth checking rather than assuming you're stuck until next year.
Your next step
See estimated ACA marketplace plan options and subsidy amounts for your area.
Also worth a look:
Common questions
Can I switch plans right now because my premium went up?
If it's currently Open Enrollment, yes -- you can compare and switch without needing a special reason. Outside that window, it depends on whether you separately qualify for a Special Enrollment Period.
Will switching plans lower my premium?
It might, depending on what's available in your area and your updated subsidy -- but it isn't guaranteed. Comparing your real, current options is the only way to know for your specific situation.
Does my subsidy automatically update every year?
Your subsidy is generally recalculated at renewal based on the new year's benchmark plan pricing and your reported income -- but it's worth confirming your income estimate is current rather than assuming it carried over correctly.
Questions are easier by phone.
Call 855-367-1095 to talk through your situation with licensed insurance help.
- Licensed insurance help
- No guaranteed eligibility, pricing, or availability
- Educational starting point
Information on this site is educational and does not guarantee eligibility, enrollment, pricing, or availability. It is not a recommendation to buy any specific plan or policy.