Open Enrollment for the Affordable Care Act (ACA) begins November 1. Agents should know that health insurance premiums for their clients are likely to rise if the extra subsidies from 2021 expire at the end of the year.
These enhanced subsidies helped lower costs during the pandemic but will expire if not renewed by Congress.
A Powerful Tool That Will Help You Prepare for Subsidy Changes
Agents need to get ready for possible changes to client costs. Review your clients’ current health plans and estimate how higher premiums may affect them. Stay updated on client needs and potential financial impacts.
The Kaiser Family Foundation (KFF) offers a calculator that estimates premium changes if the enhanced subsidies end. Agents can use this tool to show clients possible increases.
Information needed for the calculator:
- Residence information
- Household income
- Age
- Tobacco use
- Family size
Once this information is entered, the calculator gives a summary of what clients might pay for premiums in 2026. It also offers a plan comparison.
The KFF calculator displays a table showing potential costs for each plan type, often comparing gold, silver, and bronze. It provides a link to Healthcare.gov for more details.
Guiding Clients Through Plan Choices
The calculator helps agents explain differences between plan levels and shows increases in costs, if any. Moving to a new plan may help manage costs and coverage. Agents can also look for indemnity plans, which may fill any coverage gaps.
Clients may need to pay higher premiums or change coverage, but it is better than having no insurance. Lack of coverage can lead to bigger medical bills if major health issues arise or clients may face a lack of treatment.
Change Will Bring Opportunity
More ACA enrollees than normal could be looking for new insurance plans this fall. While that creates the potential to lose a client, it also means you may gain clients who have been affected by price increases or have lost their plans entirely. The key is to be seen as an expert on health insurance and someone who can guide people to a great plan.
How Pandora Insurance Can Help
Pandora Insurance can help you get ready for what will be a challenging 2026 Open Enrollment. Pandora Insurance partners with the major insurers in the ACA market. This is a time to be partnered with experienced players in the market who can give you the support you need to be successful.
- Freepre-license courses for our contracted agents
- Industry leading carrier contracting
- Federal Marketplace Certification for Affordable Care Act (ACA)
- Knowledge-based and practical training
- Partnerships with proven sales professionals
- Carriers include: ACA (Obamacare), Medicare, life and supplemental
- Commission and bonus reporting
- Bilingual support
Start today on your path to growing your business! Contact us at 305-603-7603.
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