TRENTON — The New Jersey Department of Banking and Insurance today published final plan year 2027 rate changes for health insurance carriers operating in the individual market, which includes Get Covered New Jersey, the State’s Official Health Insurance Marketplace. Open Enrollment for 2027 coverage begins on November 1, 2026, and ends January 31, 2027.
Consistent with nationwide trends, New Jersey plans will experience double-digit rate increases for 2027. Insurance carriers cited rising medical and prescription drug costs as the underlying reasons, as well as the worsening risk pool caused by the federal government’s failure to renew enhanced premium tax credits.
While health insurers serving the individual market are required to make annual informational rate filings with the Department, the Department does not approve rates or have the authority to reject filings based on rates, under New Jersey statutes.
“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.”
“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.”
The weighted average increase for rates will be 19.8% in the individual market, which includes both on-exchange plans and those sold off-exchange directly by insurance companies. Nationwide, health insurers for Affordable Care Act-regulated plans reported a proposed median premium increase of 15%, according to a recent Kaiser Family Foundation analysis.
Individual Market 2027 Rate Changes
Carrier |
Average Rate Change (vs. 2026 Rates) |
| AmeriHealth |
17.0% |
| Horizon |
15.3% |
| Oscar |
29.3% |
| United Healthcare |
35.7% |
| Ambetter from WellCare of New Jersey |
20.8% |
| Total Average Rate Change |
19.8% |
The rates listed above represent the 2027 increases for unsubsidized plans. Many consumers may still qualify for financial assistance to lower their premiums through NJ State subsidies and remaining federal subsidies, thereby lessening the effective rate increases they will experience. Get Covered New Jersey aids consumers with free help from trained professionals who can answer questions about financial assistance and guide them through enrollment.
Average rate changes for the Small Employer Health Market can be found on the Department’s website.
ABOUT GET COVERED NEW JERSEY
Get Covered New Jersey is the state’s Official Health Insurance Marketplace, operated by the New Jersey Department of Banking and Insurance, where New Jerseyans can find quality insurance from private health insurance companies. Get Covered New Jersey is the only place where individuals who qualify can get financial help to reduce premium costs. Consumers can then compare health insurance plans and choose the plan that best fits their health needs and budget. Depending on their income, some consumers may qualify for low-cost or free coverage from NJ FamilyCare. Get Covered New Jersey was established by state law and created by New Jersey, for New Jersey. For more information, visit GetCovered.NJ.gov.
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