Your Premium Went Up?

Ryan Michalek, Licensed Health & Life Insurance Agent, NPN 21043091. Last updated November 8, 2026

Renewal letter came in higher and your plan just got too expensive? Run your old and new premium through the renewal check below. Then call or text me at (813) 833-7448, book 15 minutes, or send the short form, and I'll compare it with what else is out there before your plan renews. If your insurance company is leaving, start with what to do when your insurer exits.

I answer my own phone, evenings and weekends.

Why your premium jumped

Premium increases usually aren't personal. They come from annual re-rating. Carriers reset prices every plan year based on a few things: rising medical costs, changes to the plan's benefits or network, and your age band ticking up. On top of that, shifts in the subsidy math tied to your income and the local benchmark plan can move your number too, and a few of these stacking together is what turns a renewal into sticker shock.

What’s driving the jumps for 2027 in particular: two things shifted at the system level, not just on your plan. The enhanced premium tax credits that had held marketplace premiums down for millions of people expired at the end of 2025, so many are now seeing the unsubsidized price for the first time. And the 2027 rates are now final: according to KFF (October 30, 2026), the average benchmark silver marketplace premium is up 13% for 2027, after a 26% jump for 2026, which puts it about 42% higher than in 2025. Final 2027 rates are available to compare on HealthCare.gov during open enrollment. If you earn above the subsidy range (what's known as being over the ACA subsidy cliff), both of these land on you at full force, which is exactly when re-shopping the whole market, including off-exchange private plans, tends to matter most. (Current as of November 2026; Congress could still act.) One more change worth knowing: if you received an advance subsidy for 2026, the cap on paying back any excess at tax time is gone, so a raise or a bigger year can mean a larger bill when you file in early 2027. What the repayment change means for you

What full price looks like for 2027. For a healthy 60-year-old in Tampa who earns too much for a subsidy, the benchmark silver marketplace plan runs about $1,460 a month, roughly $17,500 a year, based on public marketplace quotes checked October 31, 2026. A 60-year-old couple is about $2,920 a month. Your price depends on your ZIP, age and plan, which is why the first step is a side-by-side look at your own options.

Why your renewal can jump far more than the 13% headline

The 13% figure in the news is an average for one plan, the benchmark silver, before any subsidy. Your bill is a different number: the price minus whatever tax credit you get. For 2027 the credit side changed more than the price side, so the people who ask me "why did my health insurance go up so much more than the news said?" are usually the ones whose credit shrank or disappeared. Two worked examples, using the IRS 2027 contribution table (Rev. Proc. 2026-26) and the 2026 federal poverty guidelines, checked November 8, 2026:

• One person, age 60, earning $70,000. Under the enhanced credits that ran through 2025, nobody paid more than 8.5% of income for the benchmark silver plan, which for this person meant about $496 a month. For 2027 the line for one person is $63,840, and above it there is no credit at all. In the 34 cities I priced for 2027, the full benchmark price for a 60-year-old ran from about $1,025 to about $2,541 a month. Same person, same income, and the bill can more than double while the "average increase" reads 13%.
• One person earning $50,000, still under the line. The credit still applies, but the share of income you're expected to pay went up. For 2027 the top of the scale is 10.22% of income, reached at 300% of the poverty level, so this person is expected to put about $426 a month toward the benchmark plan before the credit covers the rest. Under the enhanced rules the cap was 8.5%. Anything richer than the benchmark costs extra on top.
• A birthday on top of it. Federal rules let insurers charge an older adult up to three times what a 21-year-old pays, and the price rises with each year of age, so every renewal also carries your new age.

These are illustrations of how the rules work, not a quote or a promise of any credit; your own number depends on your household, your county's benchmark plan and your final income. Sources: IRS Rev. Proc. 2026-26 (2027 applicable percentages); HHS 2026 poverty guidelines (Federal Register, January 15, 2026); KFF, October 30, 2026 (13% average benchmark change); public marketplace prices checked October 31 and November 1, 2026 for what full price looks like for 2027. Whether a retirement contribution or another deduction moves your income is a question for your CPA.

2027 renewal: what’s changing

Here is where things stand as of November 2026. These are statewide averages for individual plans before any subsidy, so your own renewal can land higher or lower.

• Florida: state regulators approved an average 10.4% increase for 2027 (Florida Office of Insurance Regulation, October 2026).
• Colorado: an approved average increase of 10% (Colorado Division of Insurance, September 2026).
• Maryland: an approved average increase of 14.6% (Maryland Insurance Administration, September 2026).
• Georgia: the final 2027 rate filings average about 20.7% (final filings, as compiled by ACASignups). Georgia runs its own exchange, Georgia Access, instead of HealthCare.gov. Open enrollment there runs November 1, 2026 to January 15, 2027, and December 15 is the last day to enroll for a January 1 start (Georgia Access). Georgia coverage options
• Insurers coming and going: as of October 28, 2026, KFF counted 11 insurers leaving at least one state’s marketplace for 2027 and 7 entering new ones. If yours isn’t coming back, see what to do if your insurer is leaving.

Averages only tell part of the story. Rates vary by age and county, so the number that matters is yours: send me your renewal notice and we’ll pull your 2027 options side by side. That’s a comparison, not a quote or a guarantee of coverage; private plans are medically underwritten, so approval isn’t automatic.

How to lower your health insurance costs without cancelling

When the premium jumps, the instinct is to drop the plan, but cancelling is a one-way door, and some don't reopen until the next enrollment window. The better first move is to trim, not torch. Often you can lower your cost while keeping real coverage by re-shopping the whole market at renewal, right-sizing the plan tier to how you actually use care, checking whether your income now qualifies you for help you didn't get before, or adjusting the pieces you control. What you don't want is to cancel first and learn the re-entry rules afterward. Let's look at what can change before anything gets cancelled.

What to look at when you don’t get a subsidy

• Compare every metal level, not just silver. For full-price buyers, gold sometimes costs less than the benchmark silver plan, so see the 2027 prices state by state.
• Match the deductible to how you use care. If you’re healthy and rarely see a doctor, an HSA-eligible bronze plan keeps the premium down and lets you save pre-tax for the deductible.
• If you’re healthy, price a private under-65 plan. These are medically underwritten, so approval isn’t automatic, but for a healthy person paying full price they’re worth comparing side by side.
• Check whether you’re just over the line. If your income is close to the cutoff, talk to your CPA about whether a retirement or HSA contribution changes the picture (how the subsidy cutoff works).
• Covering a family? Look at the whole household. Per-person and family deductibles, the kids’ doctors, and whether one spouse belongs on a work plan all move the number; here’s how families of 4 or 5 compare plans.
• Re-shop the whole market every renewal. Prices move at different rates across insurers, and a plan that fit well last year can quietly slip behind.

A plain-English summary, not a quote, a promise of coverage, or tax advice, so confirm anything tax-related with your CPA. What fits depends on your health, income, doctors, and state, and I’ll walk through your real options with you at no cost.

If your insurance company is leaving the marketplace

For 2027, several insurers are leaving the individual market in a number of states, including some I’m licensed in, such as Delaware, Iowa, Montana and West Virginia. If your plan isn’t coming back, you should receive a notice. If you do nothing, the marketplace may move you into a different company’s plan automatically, and that plan can have a different network, different doctors and a different price.

• Pick on purpose before the deadline. Enroll by December 15 for a January 1 start in most states; open enrollment runs through January 15, 2027 (later in a few state-run marketplaces). Check your enrollment window.
• Check your doctors first. A replacement plan may use a narrower network, and many 2027 marketplaces have no PPO. Can you still get a PPO in 2027?
• Look beyond the marketplace if you’re over the subsidy line. Private plans can be applied for any time of year, though they’re medically underwritten, so approval isn’t automatic. See 2027 full prices by state.

How to read your renewal notice before you decide

Most people look at one line, the new premium, and stop there. The notice tells you more than that, and the other lines are where the real change hides. Here's the order I go through it with people:

1. Is the plan coming back at all? The letter says whether your plan continues or whether you're being moved to a similar one. A different plan can mean a different network even if the name looks familiar.
2. The premium, and the credit behind it. On a marketplace plan the net price assumes the income already on file. If your income changed, update the application before you compare, or every number you look at is off.
3. The deductible and the out-of-pocket maximum. For 2027 the federal cap on in-network out-of-pocket costs rose to $12,000 for one person and $24,000 for a family, up from $10,600 and $21,200 for 2026 (CMS, January 29, 2026). A plan can hold its premium steady and still move its deductible toward that ceiling.
4. Your doctors and your prescriptions. Look up each doctor and each drug in the plan's 2027 directory and drug list, not last year's. Networks are redrawn every year.
5. Only then, the alternatives. Other marketplace plans, every metal level, and if you're healthy and over the subsidy line, coverage outside the ACA marketplace. That last one is the search I hear most this fall from people who saw their rate increase and went looking for another door.

The renewal mistakes I see most in 2027

• Cancelling first. Private plans go through medical underwriting and approval isn't automatic, and a marketplace plan doesn't start until the first premium is paid to the insurer (HealthCare.gov). Keep the old plan until the new one is approved and paid.
• Judging on premium alone. With the out-of-pocket cap at $12,000 for one person in 2027, a lower premium can carry a much bigger worst-case year.
• Leaving an old income estimate in place. Starting with 2026 coverage there's no cap on paying back excess credit at tax time (IRS Form 8962 instructions; OBBBA). How that settles on your return is your CPA's call; keeping the estimate honest is the part you control.
• Counting on a catastrophic plan as a fallback. For 2027 the expansion that would have opened catastrophic plans to more adults over 30 is on hold by a federal court order, so being over the subsidy line doesn't qualify you by itself (CMS statement, July 31, 2026).
• Waiting past December 15. That's the last day to pick a plan for a January 1 start in most states. Enroll December 16 through January 15 and the new plan generally starts February 1.

Picked a lower plan and the deductible is hurting?

Many people moved down to a bronze plan to keep the premium manageable for 2026, and some only find out what that deductible means when the first big bill arrives. Marketplace plan changes generally wait for the next Open Enrollment unless you have a qualifying life event, so you usually can’t just switch to a richer marketplace plan mid-year. A private under-65 plan can be applied for any time of year, but it’s medically underwritten, so approval isn’t automatic, and switching mid-year usually means starting a new deductible. If you’re weighing a move, line up the new coverage before you cancel anything so there’s no gap. More on changing plans mid-year

Health insurance too expensive? You're not stuck with the increase

If your plan just got too expensive, the renewal is an invitation to re-shop, not a bill you have to accept. As an independent broker, I re-run your situation across the ACA marketplace and private under-65 plans, check whether you qualify for a premium subsidy, and weigh the trade-offs between premium, deductible, and network, so you're choosing on real numbers instead of defaulting to whatever auto-renewed. There's no fee to work with me, and switching is your call. And if your increase showed up on a 2027 renewal, open enrollment for 2027 is the clean window to make the change, so it's worth knowing the dates before you decide, along with when you can switch health insurance mid-year.

• A fresh comparison across marketplace and private carriers
• A subsidy check, since many people qualify and don't realize it
• Right-size the plan: balance premium, deductible, and network
• One licensed advisor for the private-plan paperwork, and a trusted partner for any marketplace enrollment

A renewal letter won't tell you this: if your plan came through an agent who only represents one company, a rate hike leaves you with their price or nothing, because they can't shop you anywhere else and there's nowhere else for them to look. An independent broker works differently. I'm not tied to a single carrier, so a jump isn't a dead end; it's the reason to put the whole market side by side and see who's priced your situation better this year. And if the plan you have, or a marketplace plan, still comes out ahead, I'll tell you that, too. You'll be talking with me the whole way; I answer my own phone, evenings and weekends included.

A client who came to me through a coworker after a big jump in their rates wrote afterward that what stuck with them wasn't the plan itself. It was having the options explained patiently and being kept up to date at every step. That's the part I hold myself to: you'll know what each choice means before you make it.

A rancher out in Wyoming called me after his renewal notice showed up at the start of the year. When the enhanced subsidies went away, his rate went through the roof — and Wyoming was already one of the most expensive places in the country to buy coverage, with only a couple of carriers and hospitals spread thin across a whole lot of open country. He's healthy. He hardly ever used his insurance. And he just couldn't bring himself to pay what they were asking. So he went online looking for help and found me. We got him set up with a plan for a lot less than he'd been paying — one that fits the way he actually uses care, which is rarely, while still protecting him if the year ever goes sideways. He's still out there working the ranch. Covered if he ever needs it.