Health insurance companies that offer Obamacare coverage are asking regulators for a 14% median premium increase for the 2027 plan year — the second-largest requested hike in nearly a decade, according to data compiled by health policy research organization KFF.
Insurers are required to submit their proposed rate changes to regulators by July 15, outlining anticipated costs and pricing adjustments for the coming year. The 14% figure represents a significant jump, though it falls short of last year’s requested median increase of 18%.
When companies sought that 18% hike for 2026, they cited an expected surge in higher-risk, sicker patients enrolling in the plans without enough healthier members to balance out costs. That same trend is expected to continue pushing premiums up by roughly 4% in 2027, KFF said. Additional factors contributing to the increase include widespread economic inflation, climbing medication prices, and growing consolidation among medical providers.
Obamacare enrollment dropped 13% in 2026 compared to 2025, falling from 22.1 million people after pandemic-era subsidies that helped Americans keep their coverage expired. The Department of Health and Human Services now puts current enrollment at approximately 19.2 million Americans in plans established under President Barack Obama’s Affordable Care Act.
The loss of those subsidies hit consumers hard — KFF data shows premiums climbed 58% in 2026, and deductibles rose by roughly $1,000 per person. Looking at the full picture from 2025 to 2027, total premium increases are on track to exceed 33% based on the latest proposed rates.
Despite the steep increases, most marketplace enrollees who earn less than 400% of the federal poverty level still qualify for some form of subsidy assistance.
To arrive at its 2027 projections, KFF reviewed rate filings submitted by 77 insurers across 16 states and Washington, D.C. Major insurers including Centene and UnitedHealth have both flagged rising medical costs within their Obamacare businesses this year. CVS Health announced last year that its Aetna insurance division would stop offering Obamacare plans in 2026 altogether, citing unsustainable cost increases.
