Maryland residents who purchase health insurance through the state marketplace may face a significant increase in their premiums in 2026, potentially impacting their access to essential health care services.
The Maryland Insurance Administration announced proposed premium hikes averaging 17% for individual plans and 5.5% for small business group plans. This could mean that thousands of people in Maryland will pay hundreds of dollars more annually for their health coverage.
Health insurance affordability is crucial to ensuring people can maintain regular access to doctors, medications, and preventive care. Johanna Fabian-Marks, Director of Policy and Plan for the Maryland Health Benefit Exchange, warned that these would be the largest increases in six years, risking coverage stability for many.
The proposed hikes are largely driven by the expected expiration of enhanced federal tax credits under the Affordable Care Act, which have helped lower out-of-pocket costs for insured individuals. Without these credits, premiums are expected to rise steeply.
If Congress renews these federal subsidies, premium increases could be limited to 5% to 7%, which would be far more manageable for Maryland families. Without action, some carriers are seeking nearly 19% increases, potentially adding more than $800 per person annually.
The state is developing a subsidy program to partially offset these federal cuts but warns it will not fully replace the lost assistance.
Rising health insurance costs can discourage people from seeking needed medical care, leading to worsened health outcomes over time. Maryland officials are encouraging public feedback and congressional action to protect coverage affordability.
A virtual public hearing on the proposed premium increases will be held on July 30, providing Marylanders a chance to voice their concerns.
