New Jersey health insurance rates to rise nearly 20% in 2027; increases vary by carrier
NEW JERSEY — Health insurance premiums in New Jersey’s individual market, including plans offered through Get Covered New Jersey, will increase by an average of 19.8% in 2027, according to final rate changes released by the New Jersey Department of Banking and Insurance.
The increases will affect individual health insurance plans purchased through the state’s official health insurance marketplace and directly from insurance companies. Open enrollment for 2027 coverage begins Sunday, Nov. 1, 2026, and continues through Jan. 31, 2027.
State officials said the double-digit increases reflect a nationwide trend, with insurers citing rising medical and prescription drug costs, along with changes to the insurance risk pool associated with the expiration of enhanced federal premium tax credits.
The department noted that although insurers are required to submit annual informational rate filings, New Jersey law does not give the agency authority to approve rates or reject filings based on the proposed increases.
“New Jersey families are already grappling with a serious affordability crisis, and rising medical and prescription drug costs threaten to price residents out of the coverage that they need to stay healthy,” said Governor Mikie Sherrill. “The Trump Administration and Washington Republicans have made this crisis worse by allowing enhanced premium tax credits to expire, driving up premiums and forcing families to choose between keeping their coverage and making ends meet. My Administration will continue fighting to lower costs and ensure every New Jerseyan has access to quality healthcare.”
According to the department, the weighted average rate increase for New Jersey’s individual insurance market will be 19.8%, compared with a proposed national median premium increase of 15% for Affordable Care Act-regulated plans reported in a Kaiser Family Foundation analysis.
The following are the final 2027 individual market rate increases by insurance carrier:
- AmeriHealth: 17.0%
- Horizon: 15.3%
- Oscar: 29.3%
- United Healthcare: 35.7%
- Ambetter from WellCare of New Jersey: 20.8%
The overall weighted average increase across the individual market is 19.8%.
United Healthcare will have the largest average increase among the five listed carriers at 35.7%, followed by Oscar at 29.3%. Horizon will have the smallest average increase at 15.3%.
The percentages represent average increases for unsubsidized plans compared with 2026 rates. Actual premium changes will vary depending on the insurance carrier and plan selected, while financial assistance may reduce the amount eligible consumers pay.
“These health insurance rate increases will place extraordinary pressure on household budgets, and drive more New Jerseyans to make the heartbreaking choice to drop coverage altogether,” said Acting Commissioner Susan Ochs. “While this is a challenging environment for many, our GetCoveredNJ team is here to help consumers find plans that may work for them.”
Despite the increases, state officials said many consumers may still qualify for financial assistance through New Jersey subsidies and remaining federal premium subsidies, which could reduce their monthly insurance costs.
Get Covered New Jersey offers free assistance from trained professionals who can help consumers compare health plans, determine eligibility for financial assistance and complete enrollment applications.
Residents can obtain information about available plans and enrollment through Get Covered New Jersey.
Additional information about average rate changes in the state’s small employer health insurance market is available on the New Jersey Department of Banking and Insurance website.
