While not all insurers will raise their rates, its important to review your plan.
What Are Health Premiums?
A health premium refers to the cost you pay each month for health insurance coverage.
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Why Are ACA Premiums Increasing?
Inflation plays a role, too.
How Can You Reduce Your Monthly Health Insurance Premiums?
Depending on your income level, help is available to cover health insurance premiums.
People earning at least 100% of the federalpoverty levelmay qualify for a premium tax credit (PTC).
If your individual income is at least $15,060 for 2024, youre likely eligible for this tax credit.
The ACA policy you select determines how much money you’re free to save with a PTC.
There are four ACA tiers: bronze, silver, gold, and platinum.
If you choose a lower-tier plan, you could pay nothing in premiums at all.
Are Other Types of Insurance Increasing Premium Rates, Too?
Medicare is expected to announce its 2025 rate increases on October 1.
What This Means For You
The ACA marketplace enrollment for 2025 starts on November 1.
You will not be charged for help by navigators that you find through the website.
KFF.How much and why ACA Marketplace premiums are going up in 2025.
Department of Health and Human Services.A quick guide to the Health Insurance Marketplace.
