End of Summer ACA Newsletter
Dear Clients -
I hope you all have been doing well and are enjoying the warmer weather. I have had a great summer myself which included a triathlon up in Burley, Idaho, and a trip up to Banff, Canada with my girlfriend Jackie (picture above). As the summer winds down, I wanted to send out a newsletter with some general info regarding the ACA marketplace insurance space, as well as a few action items for you to ensure your coverage continues to meet your needs next year.
The enhanced subsidies that expired at the end of 2025 have had a massive impact on the ACA marketplace. From my perspective, I think this is hurting the financials of these ACA carriers significantly. Enhanced subsidies going away means that the client has to pay a higher percentage of the gross monthly premium now. These higher premiums have caused a lot of healthier and higher income beneficiaries to leave the marketplace and look for private insurance options (these plans can be cheaper for those who aren’t subsidy-eligible but also require underwriting and have less comprehensive coverage). This leaves these ACA carriers with less revenue, and a less-healthy pool of clients, for which they are now paying out a higher percentage of that revenue on claims. So how do they get back to more profitability? Though 2027 plans have not been released yet, I think we will see more premium increases this year for consumers as the carriers try to respond to these market changes. I want to assist as best I can to make sure you feel great about your health insurance coverage for the 2027 year so below I have a few action items that will help us ensure this.
#1 - Please keep an eye out for your Annual Renewal Notice for your carrier. This will be mailed out before November 1st, and it explains how your current plan’s benefits are changing for the 2027 year.
#2 - Keep an eye out for a handwritten mailer from myself! As 2027 information gets finalized, I will send a mailer to every client with more detailed info regarding your plan changes and my recommendation. I will schedule a review with each of you in early November and ensure we have proactively selected the right coverage for you for the 2027 year. For most of you who still qualify for subsidies, the marketplace tends to be cheaper (and has more comprehensive coverage) than private plan options. However, if you’re healthy and not eligible for subsidies, we will look into private options as well because they can be cheaper and have lower out-of-pocket max amounts than unsubsidized marketplace plans in some cases.
#3 - Consider adding dental/vision/hearing coverage. ACA marketplace plans are medical only and rarely include coverage in these areas, yet they are still an important part of your overall health. Plan premiums and options vary depending on your location, but feel free to reach out to me if you would like to shop these plans.
I really appreciate you allowing me to be a resource for you with your health insurance needs. It’s an honor to assist, and if you need anything just let me know! With ACA plans in particular, income changes, job changes, moving, and other life changing events can immediately impact plan availability and cost, so please keep me in the loop if any of those changes have recently applied to you (even if it is mid-year) so we can ensure your coverage is still optimal. If you know anybody else needing health insurance assistance, feel free to share my info with them - and if you’re happy with my services, feel free to leave me a google review at the link below as well.
https://g.page/r/CQFkLRT_ifj7EAI/review
Best always,
Garrett Faragher
