What Rising Health Insurance Premiums Could Mean for You in 2026
Health insurance costs continue to be a growing concern for many households—and 2026 is shaping up to be no exception. Between rising medical expenses, changes to government programs, and shifting insurance subsidies, the choices made during open enrollment can have a meaningful impact on next year’s budget.
With open enrollment for medical insurance ending on December 15 for plans starting January 1, 2026, and January 15 for plans starting February 1, 2026, now is an important time to understand what’s changing and how those decisions may affect next year’s budget.
Why Health Insurance Premiums Are Increasing
Several factors are contributing to higher health insurance premiums looking ahead to 2026, including:
- Rising healthcare utilization and medical costs
- Increased prescription drug spending
- Higher labor and operational expenses for providers
- Adjustments insurers are making to manage risk
These pressures affect both private insurance plans and employer-sponsored coverage, making it more important than ever to understand how your plan fits into your overall financial picture.
A Key Change to Watch: ACA Premium Tax Credit
One significant factor impacting many households is the potential expiration of enhanced Affordable Care Act (ACA) premium tax credits.
These credits have helped reduce monthly premiums for millions of individuals and families. If they expire as scheduled, some consumers could see noticeable increases in out-of-pocket health insurance costs—even if their plan itself hasn’t changed.
This makes reviewing plan options during open enrollment especially important.
Why the Open Enrollment Deadline Matters
Even if you’re automatically re-enrolled, it’s worth confirming that your plan still aligns with:
- Your healthcare needs
- Your expected income
- Your monthly cash flow
- Your broader financial plan
Small differences in premiums, deductibles, or coverage can add up significantly over the course of a year.
How Health Insurance Fits Into Financial Planning
Health insurance isn’t just a medical decision—it’s a financial one. Premiums, deductibles, and out-of-pocket maximums all affect:
- Retirement spending
- Emergency savings needs
- Long-term budgeting assumptions
- Investment and cash flow strategies
Understanding how rising premiums could impact your plan allows you to make informed adjustments elsewhere, rather than being caught off guard later.
Planning Ahead Creates Options
While rising costs are frustrating, the advantage investors and families still have is the ability to plan ahead. Reviewing coverage options, understanding potential changes, and coordinating health insurance decisions with your overall financial strategy can help reduce surprises and create more confidence heading into the new year.
What This Means for You
If you’re navigating open enrollment decisions or wondering how rising health insurance costs could affect your broader financial plan, taking time to review your options now can make a meaningful difference.
We’re here to help you understand how these changes fit into your overall strategy and ensure your planning decisions support both your healthcare needs and long-term goals. Start learning today!
Disclosures:
Advisory services are offered through Assurance Wealth Management, a Registered Investment Advisor in the State of Texas. Assurance Wealth Management is not affiliated with or endorsed by the Social Security Administration, Internal Revenue Service, or any other government agency.
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All written content is for information purposes only. The information contained herein has been derived from sources believed to be reliable, but is not guaranteed as to accuracy or completeness and does not purport to be a complete analysis of the materials discussed. All information and ideas should be discussed in detail with your individual adviser prior to implementation.
