Georgians enrolled in Affordable Care Act (ACA) marketplace plans could see some of the nation’s largest premium increases next year, with a preliminary analysis indicating a potential average surge of 21% across all plans. This places Georgia on track to have among the biggest price increases for health insurance costs on the ACA exchange in 2025, according to findings by The Wall Street Journal and the health research group KFF.

Specifically, initial proposals from United Healthcare for plans in Georgia show an even more dramatic potential jump, with premiums projected to surge by an average of 42%, according to KFF researchers.

These significant increases are attributed to a confluence of factors, including persistent inflation, the rising cost of healthcare labor and materials, and the financial impact of major weather events.

Georgia Insurance Commissioner John King is actively engaged in a multi-pronged effort to mitigate these rising costs, particularly for ACA plans offered through the state’s “Georgia Access” marketplace. The news comes as Georgia Access has experienced a dramatic surge in enrollment, highlighting the growing demand for affordable coverage.

“My office is actively working with insurance carriers and members of Congress to address these rising health insurance costs,” Commissioner King stated, emphasizing the critical need for a stable marketplace and affordable coverage options for Georgians.

King’s office is exploring various strategies to stabilize the market and potentially lower premiums. These include advocating for tort reform, which aims to modify lawsuit rules to potentially reduce healthcare liability costs, and implementing reinsurance programs, which help stabilize the market by covering a portion of high-cost claims, thereby reducing the risk for insurers.

Commissioner King has publicly committed to ensuring a stable marketplace with access to affordable, quality private health coverage, and is also actively seeking increased authority to fine insurance companies for violations.

In light of these anticipated increases, consumers are encouraged to proactively compare plans and shop around for the best rates during the upcoming open enrollment period for 2025 coverage. Exploring options like bundling policies or inquiring about potential discounts could also help mitigate costs.

The battle against rising healthcare costs remains a significant challenge, with Commissioner King’s office continuing its discussions with carriers and federal lawmakers to secure more stable and affordable options for Georgians.