Your health insurance costs could go up by as much as 300%, and experts are warning that this might lead to 300,000 individuals in North Carolina losing their coverage.
GREENSBORO, N.C. — More than a million people in North Carolina who have health insurance through the Affordable Care Act (ACA) are likely to experience significant increases in their premiums.
According to research by KFF, a 60-year-old couple currently paying $580 a month for coverage in Charlotte might see their monthly premium rise to over $2,100 in 2026.
What’s causing the increases?
The primary culprit is the expiration of extra federal assistance that was introduced during the pandemic. The American Rescue Plan offered enhanced subsidies to lower monthly premiums, but those are predicted to run out at the end of 2025.
“These enhancements were always intended to end by the close of 2025,” said Matt McGuff from KFF. “This indicates that there might be Republican support for extending these premium tax credits, maybe for a year or indefinitely.”
Other factors influencing costs
It’s not solely about the loss of subsidies. All ACA insurers in North Carolina are seeking rate increases for the upcoming year. Insurers may anticipate that younger and healthier individuals could opt out, leading to higher costs for those who remain. Additionally, some companies are bracing for potential impacts from tariffs.
Who will set the rates?
The North Carolina insurance commissioner has not yet established federal ACA rates, but his office is reviewing proposals to ensure fairness in pricing.
“These elements have affected rates not just in North Carolina, but across the nation,” North Carolina Insurance Secretary Mike Cosdy remarked in an office release. “During the rate review process, the NCDOI analyzes the proposed fees to make sure they aren’t excessive, insufficient, or unfairly discriminatory, and that they have a reasonable connection to the benefits offered. NCDOI thoroughly evaluates the proposed prices to ensure compliance with all statutory requirements.”
In summary
If no changes occur before January, KFF projects that roughly 300,000 individuals in North Carolina may lose their insurance coverage due to unaffordable costs.
