Washington health insurance premiums to rise 21 percent in 2026

Health insurance premiums set to spike in Washington for 2026

Twelve insurers have been approved to sell individual health plans in Washington Health Benefit Exchange in 2026, with an average 21% rate increase — nearly double last year’s hike.

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The Office of the Insurance Commissioner said the hikes are tied to rising health care and prescription drug costs, higher provider rates, hospital consolidation, and uncertainty over whether Congress will extend federal premium tax credits. Without renewal, 80,000 Washingtonians could lose coverage, and average annual costs could climb $1,330 or more.

Insurance Commissioner Patty Kuderer called the increases a heavy burden, especially for vulnerable populations. “When premiums become less affordable, younger and healthier people drop coverage and those who need care find a way to keep it,” she said. “This cycle is hard for the system to bear and even harder for consumers to endure.”

Employer-sponsored insurance is also expected to climb nationwide, with surveys projecting 6.5% to 10% premium increases — the largest jump in 15 years.

Washington’s Exchange currently covers nearly 300,000 people, 75% of whom receive subsidies. Lawmakers and health officials continue pressing Congress to extend the tax credits and seeking long-term options to increase affordability and move toward universal coverage.