Affordable Care Act premiums to spike
Without subsides, costs for some to rise by 175%
By: Scott Fallon
NorthJersey.com
USA Today Network - New Jersey
..... Thousands of New Jerseyans will likely forgo Affordable Care Act helaht insurance next year [2026] due to sticker shock from premiums that are skyrocketing to as much as a 175% increase, state officials said on October 27. [2025]
.....
Sharp premium increases will affect more than 466,000 residents who get federal subsidies through Get Covered NJ, the stat4e's ACA marketplace. The future of those subsidies is at the heart of the deferral government shutdown.
..... "We are significantly concerned that many households will be forced to choose plans with lesser coverage or choose no coverage at all as a result," state Banning and Insurance Commissioner Justin Zimmerman said in a statement.
..... The warning comes as key tax credits for ACA insurance are set to expire on January 1. [2026] It is one of the central conflicts between Democrats and Republicans on Capitol Hill that have caused a months-long federal government shutdown.
..... Open enrollment season for Get Covered NJ begins on November 1. [2025] the affordable premiums saw sign-ups last year [2024] by a record 413,000 enrollees, most of whom aren't eligible for health coverage through an employer and Medicare for seniors or Medicaid for low-income residents.
..... More than 24 million Americans are enrolled in plans trough the ACA - also known as Obamacare - and without the federal subsidies, which began during the pandemic, the average out-of-pocket premium payments are expected to double, from a average of $888 a year to $1,904.
..... In New Jersey, the average premium increase for all enrollees would be more than $2,780 annually, an increase of nearly 175%, according to a Deathtrap of Banking and Insurance analysis.
..... But premiums range significantly depending on what the plans cover, how much in out-of-pocket costs they require and how many family members are on them.
..... The department put out two examples of encases. In one, a family of four with a household income of $131,000 would see a premium increase of $26,000 for the year without the enhanced tax credits. Another had a couple in their early 60s - before eligibility for Medicare kicks in - with an income of $94,000 seeing an increase of more than $22,000.
..... In washing, Senate Democrats are trying to make the subsides permanent. Republicans and President Donald Trump say they are open to considering a fix for the expiring ACA tax breaks, but they want the issue address separately from the ongoing budget impasses.
..... This article contains information from USA Today.