NJ Marketplace Rates Jump 20% as Federal Subsidies Lapse
New Jersey's ACA marketplace, Get Covered NJ, opened enrollment Nov. 1 with 2027 premiums set to rise nearly 20% on average, and nearly 36% for United Healthcare plans, after Congress declined to extend enhanced federal subsidies. State officials say New Jerseyans will lose close to $500 million in tax credits, and the share of consumers paying just $10 a month fell from 48% to 11%. Acting Banking and Insurance Commissioner Susan Ochs told state lawmakers the changes are "devastating" and cited a first-ever year-over-year enrollment decline, with over 9% of residents under 65 now uninsured. The piece also notes separate federal Medicaid funding cuts are expected to push up to 330,000 people off NJ FamilyCare and reduce funding for hospitals and providers.