A significant factor in the proposed increase is the potential expiration of the Enhanced Advance Premium Tax Credits on Dec. 31, 2025, unless Congress renews them, the insurance commissioner said in a release.
OLYMPIA, Wash. – The Washington State Office of the Insurance Commissioner announced 14 health insurers in Washington requested an average rate increase of 21.2% for the 2026 Individual Health Insurance Market.
A significant factor in the proposed increase is the potential expiration of the Enhanced Advance Premium Tax Credits on Dec. 31, 2025, unless Congress renews them, the insurance commissioner said in a release.
These credits, established under the American Rescue Plan Act and extended through 2025 by the Inflation Reduction Act, help individuals making more than 400% of the Federal Poverty Level afford coverage.
Washington Insurance Commissioner Patty Kuderer emphasized the importance of these tax credits. "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."
According to the Washington Health Benefit Exchange, up to 80,000 people could lose coverage if the subsidies are not extended. Insurers have factored this into their rate requests, noting that renewing the credits could decrease proposed rate changes by 6.4%, the release said.
Wellpoint Washington, Inc. plans to enter the market in Grays Harbor, King and Spokane counties.
Most Washington residents obtain health coverage through their employers, but over 300,000 individuals purchase plans in the individual market.
Last year, 286,526 people bought through the Exchange, with 77% qualifying for federal or state assistance, the release added.
