ROANOKE, Va. – What to Expect with Health Insurance in 2026
Virginia residents could face approximately 20% increases in their health insurance premiums for 2026, as subsidies reduce and uncertainty looms over federal premium tax credits, according to state insurance officials.
The Virginia Bureau of Insurance confirms premiums are expected to rise by about 20%, prompting insurance navigators to encourage residents to actively compare plans during the current open enrollment period rather than allowing automatic renewal. Virginians can either pay more for a preferred plan or find a plan that has less coverage.
One key change is the elimination of the marketplace reconciliation repayment cap. This makes it crucial for enrollees to accurately report their 2026 income (all taxable income) when signing up for insurance. Previously, if enrollees earned more than reported, they repaid the excess at tax time but with limits on repayment amounts. Now, there is no cap.
Enroll Virginia! explains, “If a household’s estimated income was conservative and received $5,000 in tax credits, but their actual income exceeds eligibility by $2,500, they must pay the full $2,500 without a cap.” They advise consumers to promptly update their income information throughout the year to avoid unexpectedly high tax bills.
Another update: Virginia Bronze plans are now all compatible with health savings accounts for those interested in that option.
The situation could become more complex as Congress has yet to vote on extending premium tax credits set to expire at the end of 2025. If extended, insurance rates may not rise as much as currently expected.
Important Dates:
- Open enrollment period ends January 31
- Current premium tax credits expire end of 2025
- Senate set to vote on a subsidy extension by December 2025
- New rates take effect in 2026
For assistance with plan selection and enrollment, use the Virginia Insurance Marketplace, or VIM, to compare your options. Then, residents are encouraged to go to Enroll Virginia! to find a local navigator.
Voices from Virginia residents
“They come in and say how much of an increase? What are we facing?” says Lois Caliri, a Certified Navigator with Enroll Virginia! and Virginia Poverty Law Center. “At that point, we start looking at the plans and prices.”
Local resident Gregory Wolford, who has been researching his options, learned his personal rate would increase significantly. “My rate is going to go up approximately 20 to 25 percent,” Wolford said. Despite the steep increase, he expressed some relief. “It’s still severe, it’s still enough to make you want to regurgitate thinking about this chunk of money that goes towards health insurance coverage, but I’m relieved because it’s not as much as I feared.”
Wolford warns residents to not be scared by some of the big numbers they see in media and to do their own research about what their plan would look like.
“It’s hard, people don’t want to pay more money, but if you want health insurance, what do you do?” Caliri noted, emphasizing the importance of making informed decisions. “We’re advocates, I’m here to advocate for the consumer.”
Despite the rising costs, insurance navigators encourage residents not to give up their search for affordable coverage. “Don’t give up without trying, yes, it’s expensive but it might not be as bad as you thought,” Wolford advised.