Health insurance is an important part of your budget. But changes to healthcare coverage and costs can make it harder to plan ahead.
If you have insurance through the Affordable Care Act (ACA) marketplace or Medicaid, changes to federal healthcare funding and subsidies could affect your 2027 coverage or how much you pay.
Here’s what to know and some simple steps you can take to prepare.
Who could be affected?
Changes to healthcare funding and subsidies could affect:
- People with ACA marketplace insurance, including workers and small business owners.
- People enrolled in Medicaid.
4 steps you can take to prepare
1. Review your current health insurance
Start by understanding what you’re paying for coverage today.
If you have an ACA marketplace plan, check:
- How much you pay each month.
- Whether you qualify for subsidies or tax credits that lower your costs.
- How your current coverage compares with other available plans.
- If you’re a small business owner, consider how changes to health insurance costs could affect your business budget or employees.
2. Compare your coverage options
You may have options if your health insurance costs increase.
Start by comparing plans. Visit HealthCare.gov to explore available plans and estimated costs. Look at both the monthly premium and the coverage each plan provides.
You can also explore:
- State health insurance marketplaces: Some states have their own marketplaces. Find out if your state has one.
- Medicaid: Some states have expanded Medicaid coverage. Check your eligibility.
- Other insurance options: Small business owners may be able to explore group plans or insurance programs offered through associations and trade groups.
- Ways to lower costs: Depending on your needs, you might consider a different plan tier, a higher deductible plan, or a Health Savings Account (HSA).
Remember to compare more than just the monthly payment when looking at your options.
3. Make room in your budget
If you’re expecting higher health insurance costs, think about how they might affect your monthly spending.
Even small adjustments can help you prepare.
- Review your current expenses to see where you might have flexibility.
- If possible, set aside extra money to help cover higher premiums.
- If you’re self-employed or run a small business, include health insurance costs when planning your cash flow and business expenses.
You don’t need to figure everything out at once. Start with what you know and adjust your budget as you learn more.
4. Get free help and stay informed
Health insurance can be confusing, especially when costs and coverage rules are changing. You don’t have to navigate it alone.
Free, local experts can help you:
- Compare health insurance plans.
- Find out whether you qualify for savings.
- Understand your coverage options.
- Enroll in a plan that fits your needs and budget.
Support is available in person, over the phone, or by email.
Healthcare policies, tax credits, and marketplace rules can change. Keep checking your coverage options and enrollment deadlines so you can make informed decisions.
Take it one step at a time
You may not be able to control changes to healthcare costs, but you can take steps to prepare.
Start by reviewing your current coverage, comparing your options, and making a plan for your budget. A little preparation can help you feel more confident about what’s ahead.
