Insurance Premiums Jump Nationwide Amid Expiring Subsidies, Millions Affected

Health insurance premiums are set to rise significantly across multiple regions in 2026, largely due to the expiration of enhanced premium tax credits established during the COVID-19 pandemic. In Ohio, over 500,000 residents face losing these subsidies, which could lead to more than 100,000 people becoming uninsured, with premiums for some increasing dramatically. The Trump administration's decision not to seek an extension of these tax credits is expected to cause marketplace premiums to nearly double in many states, disproportionately impacting rural residents who may face over 100% increases. New Jersey officials predict an average 16% rise in premiums, partly driven by the loss of federal aid and rising healthcare costs, with nearly 90% of marketplace enrollees currently receiving subsidies. Nationally, insurers are proposing substantial premium hikes, with some states seeing rural residents' annual premiums increase by over $1,700. Meanwhile, internationally, similar trends of regular premium increases continue, as seen in Ireland where insurers plan further hikes, signaling a widespread challenge for consumers facing higher health insurance costs.