OLYMPIA, WA (MyBellinghamNow.com) – Washington residents should prepare for a hefty rise in the cost of health insurance as open enrollment gets underway next week.
The state Health Benefit Exchange Board approved a roughly 21% average rate increase in health insurance premiums for 2026 last month.
It’s a steep hike from the 11% increase in 2025.
My Bellingham Now previously reported that the Washington Health Benefit Exchange attributes the rise to uncertainty surrounding federal tax credits that are set to expire at the end of the year. Those credits are at the heart of the debate between Republicans and Democrats during the ongoing government shutdown.
Last year, nearly 300,000 Washingtonians bought individual health plans through the Exchange and 75% qualified for federal premium tax credits.
Gov. Bob Ferguson estimates that residents save an average of $1,330 annually in premiums due to the credits.
According to the Exchange, 80,000 people are expected to drop coverage if the credits are not extended.
Open enrollment begins on Nov. 1 for residents who do not get their health insurance through an employer, spouse or government program.
