Premiums for ACA Marketplace benchmark silver plans are increasing on average across the U.S. in 2023 after four years of slight declines. However, premiums changes vary by location and by metal level, with premiums decreasing in some cases. As most enrollees receive significant premium subsidies on the ACA Marketplaces, the net premium amount an exchange enrollee pays depends on their income and the difference in the cost between the benchmark plan (second-lowest-cost silver plan) and the premium for the plan they choose.

The American Rescue Plan Act (ARPA) increased and expanded subsidies temporarily in 2021 and 2022 and the Inflation Reduction Act (IRA) extends those enhanced and expanded subsidies through 2025.

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As always, don’t hesitate to contact your Total Benefit Solutions health insurance specialists with any questions today at (215)355-2121.