What’s Happening in the Health Insurance Marketplace?
In recent years, enhanced premium tax credits have lowered the cost of monthly premiums for most people buying insurance through the Marketplace. These expanded tax credits have made coverage more affordable and allowed many Montanans to stay insured.
The enhanced tax credits are set to expire at the end of 2025 unless Congress acts to extend them. Enrollment for 2026 plans is already underway, and so far, Congress has not extended the credits. As a result, people are seeing much higher premiums for 2026 coverage. Many Montanans will see their current premium double – or more.
- For example, a 45 year-old in Montana earning $35,000/year will see their monthly premium increase from an average of $57 to $180, an increase of more than 200%.
Key Dates to Know
Open enrollment for Marketplace coverage runs November 1 through January 15.
- To ensure coverage beginning January 1, 2026, individuals must choose a plan by December 15.
- If Congress restores the enhanced credits before the end of the year, people will be able to update their coverage through January 15, with changes effective February 1, 2026.
What This Means for Nonprofits
Many nonprofit employees who rely on the Marketplace will face steep cost increases in 2026. As a result, nonprofit employees may have to choose plans with higher deductibles and fewer benefits, go without insurance altogether, or leave their current employer for one that offers coverage. All of these outcomes threaten nonprofit stability, employee well-being, and the sector’s ability to recruit and retain staff.
If your nonprofit does not offer traditional employer-sponsored insurance, it is likely that members of your staff depend on the Marketplace for health coverage. Here’s what they need to know now:
- Get help early: Cover Montana can help people understand their options and enroll in coverage. Visit their website to learn more or make an enrollment appointment. *Due to federal funding cuts, Cover Montana’s staffing is limited – appointments will fill quickly.
- Actively review your plan: Premiums are changing for 2026. Individuals should log in to their Marketplace account, review options, and select the plan that best fits their needs and budget. Be sure to choose a plan or turn off auto-enrollment by December 15 to avoid being automatically enrolled at a much higher cost.
- Changes are allowed through January 15: Individuals need to select a plan by December 15 for coverage that starts January 1. If Congress extends the enhanced credits, individuals can adjust their plan by January 15, with changes effective February 1.