TRENTON, NJ — November 2, 2026 — New Jersey residents shopping for health insurance are facing substantially higher costs as open enrollment for 2027 begins, with premiums in the individual insurance market increasing by an average of 19.8%.
The new rates, published by the New Jersey Department of Banking and Insurance, affect plans offered through Get Covered New Jersey, the state’s official health insurance marketplace, as well as individual insurance plans purchased directly from insurers.
The increases come amid rising medical expenses, higher prescription drug costs, and the expiration of enhanced federal premium tax credits that previously helped millions of Americans afford health coverage.
For many New Jersey households, the combination of higher premiums and reduced financial assistance could make health insurance significantly more expensive in 2027.
Insurance Premiums Rise Across All Five Carriers
According to the Department of Banking and Insurance, all five companies offering individual health insurance plans in New Jersey have announced double-digit average rate increases for 2027.
The increases vary substantially by insurer:
| Insurance Company | Average Increase |
|---|---|
| UnitedHealthcare | 35.7% |
| Oscar | 29.3% |
| Ambetter from WellCare of New Jersey | 20.8% |
| AmeriHealth | 17.0% |
| Horizon Blue Cross Blue Shield | 15.3% |
| Overall weighted average | 19.8% |
These figures represent average premium increases before subsidies. Individual households may experience different changes depending on their plan, age, location, and eligibility for financial assistance.
Nearly $500 Million in Federal Tax Credits at Stake
One of the most significant factors affecting insurance affordability is the expiration of enhanced federal premium tax credits established during the Biden administration.
The enhanced subsidies helped reduce monthly insurance payments for many people purchasing coverage through Affordable Care Act marketplaces.
However, Congress did not extend the additional assistance beyond its expiration.
According to New Jersey Acting Banking and Insurance Commissioner Susan Ochs, the state is expected to lose nearly $500 million in federal premium tax credits.
The reduction in assistance means some residents could face much larger increases in their actual monthly payments than the average premium increase alone would suggest.
Although regular federal tax credits and New Jersey’s state-funded subsidies remain available to qualifying consumers, the loss of enhanced assistance has created additional financial pressure.
More Residents Struggling to Afford Coverage
The cost of health insurance was already a significant concern for New Jersey families before the new increases.
According to state officials, the average unsubsidized monthly premium for a Get Covered New Jersey plan has reached approximately $724.
Data presented to state lawmakers also show a significant change in the affordability of marketplace coverage.
In 2025, approximately 48% of enrolled consumers paid as little as $10 per month for their insurance.
That share fell to about 11% in 2026 after federal financial assistance was reduced.
Enrollment trends have also begun to reverse.
Get Covered New Jersey enrollment increased from approximately 270,000 people in 2021 to more than 513,000 in 2025.
However, enrollment declined to approximately 509,000 for 2026 and fell to about 434,700 by the end of June.
These changes have raised concerns that rising costs could lead more residents to remain uninsured or choose plans with higher out-of-pocket expenses.
Families Face Difficult Insurance Decisions
Higher monthly premiums are not the only financial challenge.
Consumers must also consider deductibles, copayments, prescription drug coverage, and annual out-of-pocket limits.
A plan with a lower monthly premium may require substantially greater spending when medical services are needed.
State enrollment data indicate that interest in bronze-level plans increased significantly between 2025 and 2026.
Bronze plans generally offer lower monthly premiums but require policyholders to pay more of their medical expenses before insurance covers certain costs.
For households managing tight budgets, choosing between lower monthly payments and higher potential medical expenses can be difficult.
Healthcare Costs Become an Election Issue
The increase in insurance premiums has also become a major political issue ahead of the November 3 midterm elections.
Democratic candidates have criticized congressional Republicans for allowing enhanced federal premium tax credits to expire.
Republicans have raised concerns about the long-term cost of extending those subsidies, which were estimated to require hundreds of billions of dollars in federal spending over the next decade.
In New Jersey, healthcare affordability has featured prominently in congressional campaigns, including the Senate race and several competitive House contests.
However, the financial impact of the new premiums extends beyond party politics.
Residents purchasing their own health insurance must evaluate the actual cost of coverage regardless of the outcome of the elections.
Enrollment Open Through January 31
Despite the rising costs, New Jersey residents still have time to compare plans and apply for coverage.
Open enrollment for the 2027 plan year began on November 1, 2026, and continues through January 31, 2027.
The state has maintained a three-month enrollment period and is providing additional assistance through community organizations.
More than $5 million in state grants has been awarded to 33 organizations offering enrollment support across New Jersey’s 21 counties.
Residents can receive help comparing plans, understanding eligibility requirements, and applying for available subsidies.
Five insurers are participating in the marketplace for 2027: AmeriHealth, Horizon Blue Cross Blue Shield of New Jersey, Oscar, UnitedHealthcare, and Ambetter from WellCare of New Jersey.
Residents can explore their options through the official state marketplace at GetCovered.NJ.gov.
What New Jersey Residents Should Know
For residents currently enrolled in a marketplace insurance plan, reviewing their 2027 options may be particularly important.
Renewing the same plan without comparing alternatives could result in unexpected increases in monthly payments or changes in coverage.
Consumers should review both premiums and out-of-pocket costs, check whether their preferred doctors are included in the plan’s network, and determine whether they qualify for state or federal financial assistance.
Depending on household income, some residents may also qualify for low-cost or free coverage through NJ FamilyCare.
A Growing Affordability Challenge
New Jersey’s nearly 20% average premium increase reflects a broader national challenge involving healthcare costs, federal policy, and household financial security.
For families already facing high housing, transportation, food, and utility expenses, more expensive health insurance adds another burden.
State officials say financial assistance remains available, but the reduction in federal subsidies means some residents will face difficult decisions about maintaining coverage.
As enrollment for 2027 begins, the central concern is whether New Jersey families can continue to afford the healthcare coverage they need without sacrificing other essential household expenses.
Sources: NJ Department of Banking and Insurance, October 15, 2026; NJ Department of Banking and Insurance, October 28, 2026; New Jersey Monitor, November 2, 2026.
By NJ RADAR Team