Health insurance costs likely to rise in 2026
High prescription drug prices and increased medical service use are straining insurers and employers, according to brokers and experts told the Associated Press. This is expected to lead to higher premiums and reduced coverage in 2026.
“We’re in a period of uncertainty in every health insurance market right now, which is something we haven’t seen in a very long time,” said Larry Levitt, an executive vice president at the nonprofit KFF, which studies health care.
Premiums on the Affordable Care Act individual marketplaces may jump about 20%, but could soar 75% or more if enhanced federal subsidies expire. The driving factors for all costs include more expensive emergency room visits and mental health claims; health individuals dropping coverage, leaving insurers with sicker, costlier patients; and the surging use of costly drugs like GLP-1s, otherwise known as Ozempic or Wegovy.
Companies may shift more costs to employees via higher deductibles or limits on drug coverage, according to the experts. Many are also considering prescription cost caps and separate pharmaceutical deductibles.
Small businesses and their employees, who often rely on individual coverage, are especially vulnerable. Some may be priced out or forced to seek jobs at larger companies with better benefits.
Read more: Associated Press
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