TULSA, Okla. — Enrollment for the Affordable Care Act opened on November 1, and Americans can expect to see the most significant increase in costs since the law took effect over a decade ago.
The new national average for premiums through the ACA is approximately 30%, although some states may experience higher spikes.
Oklahomans using the health insurance marketplace are facing significant premium increases, ranging from 15% to 75%, as enhanced premium tax credits expire, according to the Oklahoma Insurance Department.
The Premium Tax Credit is a refundable tax credit for low-income families through the Health Insurance Marketplace. It expires at the end of the year.
OID warns that a family of four earning around $70,000 could start paying over $500 per month for coverage. The exact increase amount depends on factors including location, age, income, and health status.
"More than likely, a perfect storm is happening here, to a large extent, the past several years, with the enhanced premium tax credits, the real cost of health care has been masked," said Mike Rhoads, deputy commissioner of the Oklahoma Insurance Department.
He said multiple factors contribute to rising rates, including inflation and the cost of healthcare, but the elimination of enhanced premium tax credits will hit customers' wallets hardest.
"It's not been evident to people now with this enhanced Premium Tax Credit going away. And remember, the original tax credit is still out there, so you still get a subsidy. We're seeing the true cost of health insurance here in Oklahoma, in the ACA mark now in the group market," Rhoads said.
The Oklahoma Insurance Department advises anyone seeking insurance through the Affordable Care Act to compare options and find coverage that fits their budget and needs.
“We are encouraging consumers to please go out and go to healthcare.gov, put in your zip code, put in some preliminary information, age, gender, some additional information, and begin to review what those plans that are being offered are and compare some of the prices. Consumers must look at not only the price, but also the benefits and the networks.” Rhoads said.
In Oklahoma, through the health insurance marketplace, seven insurance companies offer over 200 different plans. Gold, silver, and catastrophic plans are available and vary depending on the plan.
Consumers can view all available coverage options at the HealthCare Insurance Marketplace by completing the enrollment form.
Eligibility requirements have changed, meaning even those enrolled in previous years must complete a new application. The deadline to enroll and re-enroll is January 15, 2026.
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