If your health insurance is going up again next year, you’re not alone. Insurance companies are raising prices for the second year in a row, with a typical increase of about 15% for 2027, and some plans are going up by as much as 52%. That’s why it’s more important than ever to re-shop your plan every year during Open Enrollment. Even if you like your current plan, a few minutes of comparing could save you money.
Some 2027 marketplace plans are going up by as much as 52%.
- Peterson-KFF Health Systems Tracker
What is my premium, anyway?
Your health insurance premium is the monthly cost of your health insurance plan, and it remains the same regardless of whether you use your plan or not. Premium prices vary among metal tiers — generally, the more you pay for your plan each month, the more care it will cover when you seek medical services.
Since the Affordable Care Act became law, health insurance companies cannot charge you more based on your health status or medical history. Premiums are set based on the projected medical costs of the insured group as a whole (everyone buying the same plan as you), a concept known as risk pooling. This allows insurance companies to spread high health care costs over a large number of people.
Why is my premium increasing this year?
Here’s a breakdown of why your health insurance premium is increasing in the coming year:
1. Healthcare keeps getting more expensive.
Doctor visits, hospital stays, and prescriptions all cost more than they used to. When care costs more, insurance companies charge more to cover it.
2. Some healthier peope dropped their coverage.
The extra tax credits that made coverage cheaper from 2021 to 2025 ended. When prices went up, some healthier people dropped their plans, so the people still covered tend to need more care. That costs insurers more, and they pass some of those costs on.
3. Rising costs for workers and supplies.
Hospitals and clinics are paying more for staff and supplies, and some are short on workers. Those higher costs show up in what insurance companies pay, and eventually in your premium.
What should you do about premium increases?
If you currently have health insurance, it's important to re-evaluate your coverage during this Open Enrollment Period. Even if your coverage was perfect last year, changes in the health care market (and your own needs!) mean that re-shopping could save you money and find more suitable coverage for the coming year.
Indeed, many insurers are raising their rates for 2027, so the plan that was affordable last year may see a substantial increase in premiums this year. By exploring new options, you might find a plan that better fits your budget while still providing the necessary coverage. Additionally, re-shopping allows you to take advantage of any new plan features or benefits that have become available, such as better networks or improved prescription drug coverage.
Remember, health insurance isn’t just about avoiding penalties or meeting minimum requirements — it’s about making sure you have access to the care you need without overpaying. Don't leave money on the table by sticking with a plan that requires you to pay more than necessary or no longer meets your needs. Instead, use this opportunity to find a better plan that offers both affordability and peace of mind.
Not sure if your current plan is still the right fit? Take our quiz. And make sure you’re getting every dollar of savings you qualify for. Use our Income Worksheet to estimate your income, then check our subsidy calculator.
Stride can help you re-shop with ease. Enter your ZIP code below to get started and see your personalized plan recommendations for 2027 in less than five minutes.
