Fourteen health insurers in Washington state have requested an average rate increase of 21.2% for plans offered on the 2026 Individual Health Insurance Market, according to the Washington State Office of the Insurance Commissioner.
A key reason behind the proposed hikes is the possible expiration of Enhanced Advance Premium Tax Credits at the end of 2025. These federal subsidies, originally introduced through the American Rescue Plan Act and extended under the Inflation Reduction Act, help individuals who earn more than 400% of the Federal Poverty Level afford health insurance.
Insurance Commissioner Patty Kuderer warned that many Washington residents rely on these credits to maintain coverage. “These tax credits are how many people afford critical coverage that protects themselves and their families,” she said. “Thousands of people in Washington state and millions across the country depend on the individual market.”
Without a renewal from Congress, up to 80,000 Washington residents could lose their coverage, according to the Washington Health Benefit Exchange. Insurers have included this risk in their pricing, noting that if the subsidies are extended, the requested rate increases could drop by about 6.4%.
In addition to the rate filings, Wellpoint Washington, Inc. announced plans to enter the market in Grays Harbor, King, and Spokane counties.
While most people in the state receive health insurance through their employers, more than 300,000 residents purchase coverage on the individual market.
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