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If you’re worried about your health care coverage, you aren’t alone. Health insurers are not only raising premiums, but some are leaving the Affordable Care Act (ACA) marketplace altogether. These departures will drive up costs for Obamacare plans and could leave many Americans without health insurance heading into the 2026 open enrollment season. Here’s what to do if your insurer quits on you, such as the 96,000 Coloradans who just found out they lost coverage.
Key Takeaways
- Major insurers like Aetna CVS Health, Rocky Mountain HMO, and Anthem plan to scale back ACA marketplace offerings in 2026.
- You could see this in your area because insurance companies are uncertain about rising health care costs, tariff-related price increases, and sweeping federal policy changes.
- With many consumers expected to be priced out of Obamacare plans once federal subsidies end this year, insurers also worry about shrinking enrollment and profits.
- Insurers staying in the market are raising premiums, with the steepest hikes since 2018.
- You can avoid coverage gaps and find an affordable plan by taking advantage of open enrollment, getting help if needed, and exploring all available plan options.
Roughly 4.2 million Americans could lose their health insurance in 2026 because of cost hikes. Market conditions are so bad that insurers are pulling back on selling ACA plans altogether. For example, late last month, the Colorado Division of Insurance (DOI) announced that Rocky Mountain and Anthem had filed plans to terminate multiple health plans in the state’s individual market, a move that could affect approximately 96,000 residents.
In an even bigger shock earlier this year, Aetna CVS Health said it would fully exit the marketplaces in 2026, citing an inability to provide the same level of value as in prior years. (“We’ll continue to serve all current members within these plans throughout the year, and we’ll help them transition to an alternative option for 2026,” a CVS Health spokesperson said via email.)
What’s Causing the Exodus?
ACA marketplace consolidation isn’t new. A 2022 report by the Government Accountability Office (GAO) found that, as of 2020, all of the insurance exchanges were concentrated, meaning that just a few issuers enrolled most people in any given market. But this year, some states, at least, are facing more significant upheaval, putting your coverage at risk.
“The volume and scope of this year’s discontinuances were notably higher than usual,” said Genna Morton, director of communications for Colorado Regulatory Agencies, Division of Insurance. She attributed this spike to Congress’s failure to extend the enhanced premium tax credits, currently set to expire at the end of this year.
These tax credits brought premiums down to $10 a month or less for 75% of enrollees. Changes to the subsidies in the Biden-era American Rescue Plan increased already existing assistance with premium payments for enrollees and, for the first time, removed income limits, making more people eligible for the long-term Obamacare subsidy.
ACA enrollment spiked in the years following this change, reaching a record high of 25.2 million people in 2025. But the enhanced credits are on track to expire by year-end, which would skyrocket premiums for millions of Americans.
‘A Fog of Uncertainty’
The looming loss of the enhanced premium tax credit isn’t the only factor roiling markets. Insurers are also juggling higher health care costs, tariff-related price increases, a rising public demand for pricey GLP-1 weight loss drugs, and unclear federal and state ACA-related timelines.
Anthem, for instance, issued a statement clarifying that it wants to provide health plans in all Colorado counties this year, but cannot commit to specific offerings, given that the state has delayed rate approval until Sept. 30. That means Colorado residents will have to wait longer to see what options they’ll have next year and just how badly premiums could spike.
Carriers are also weighing sweeping federal health care policy changes with unclear long-term and even short-term consequences. The recently passed “One Big Beautiful Bill”, for instance, includes steep Medicaid cuts that could result in 7.8 million Americans losing health insurance over the next 10 years.
Meanwhile, the Trump administration’s “Marketplace Integrity” rule, introduced additional ACA income and enrollment verification requirements, making it harder for people to join health insurance plans. However, this rule is currently tied up in court.
“Generally, insurers are dealing with this fog of uncertainty when they’re setting prices for the upcoming years,” said Matt McGough, policy analyst at KFF for the Program on the ACA and the Peterson-KFF Health System Tracker. They then pass that price uncertainty on to customers like you.
Those that aren’t leaving markets are mitigating risk by raising premiums. A recent KFF-Peterson analysis of proposed insurer rates found ACA Marketplace insurers are, on average, requesting a median increase of 18% in 2026, the largest rate change request since 2018. That would be a painful change for Americans who are already battling high inflation across the board.
How to Stay Covered
If you buy health insurance outside of work, be prepared for a worse selection and some major sticker shock when you review what’s available for 2026.
“Issuers leaving disrupts markets and may leave you with very different options than you had before, even if you can afford coverage,” said Jennifer Sullivan, Director of Health Coverage Access, Center on Budget and Policy Priorities (CBPP).
That said, there are steps you can take to navigate these changes and maintain coverage even under challenging market conditions.
Pay Close Attention to Communications from Your Insurer
This is a critical time to review any information from your insurer. Emails, letters, or texts might contain important details about a plan’s termination or outline certain actions you need to take to avoid coverage gaps.
For instance, if an insurer cancels your plan mid-year, it’ll trigger a special enrollment period, which gives you about 60 days to pick and purchase new coverage.
Avoid Auto-Enrollment
Going on auto-pilot with your 2026 plan selection could cost you. “If you don’t proactively go in and change something, they’ll just put you in the same plan that you were in the year before, and that may not be what’s best for you and your family this year, especially when it comes to the cost,” said Mona Shah, Senior Director of Policy and Strategy at Community Catalyst.
Alternatively, if your plan is no longer available, you’ll get auto-enrolled in a comparable plan with a different insurer, which also might not be your best or preferred coverage option.
A little research can go a long way to saving money. Review all the options on the federal marketplace exchange or your state’s insurance exchange, whichever is used in your area, to see which is most cost-effective for 2026. Exact costs for next year’s plans won’t be out until November, but you can get a sense of what’s out there and who the cost leaders are now.
Shop Early, But Stay Active
The sooner you start looking into your plan options, the more time you have to figure things out. Open enrollment starts on Nov. 1 and runs through Dec. 15. However, if you enroll before Dec. 15, you can change plans through Jan. 15.
“Keep an eye out for that January bill,” Sullivan said. Given the loose deadlines around proposed price hikes and this year’s unclear political climate, there’s a chance “your premium is going to be tremendously higher and you might not know until you get that first bill.”
If it is more than expected, you’ll want to switch plans while you still can. After January 15, you’re locked in for 2026.
Explore All Options
High premium prices and fewer providers can mean you’ll need to explore options you might have previously overlooked.
For instance, if you’ve had Silver or Gold plans in the past, you might consider choosing a Bronze plan that has a lower premium,” McGough said. “The flip side of that is that they have to be ready to pay higher out-of-pocket costs if they seek out health care.”
Ultimately, you’ll have to weigh each plan’s costs against its trade-offs and your anticipated health care needs.
Tip
If you sign up for a high-deductible health plan, you could then save through a Health Savings Account (HSA) with tax breaks to prepare for future out-of-pocket costs.
Seek Assistance
“There are a lot of consumer assistance programs or community-based navigators who can help you,” Shah said.
You can identify marketplace-certified assistors in your area via Healthcare.gov’s online directory.
The Bottom Line
2026 is shaping up to be a tough year for health insurance. Not only are premiums going up on ACA plans, but uncertainty is causing insurers to stop selling plans altogether, leaving fewer options on the market. Your insurer will reach out if it decides to cancel your plan. Even if your current plan will still exist in 2026, you should still research what else is out there given all the changes. What worked in 2025 might not make sense next year.
