Last week, I opened the health insurance renewal notice and paused for a moment. It mentioned that premiums would rise again next year.

I hoped it was just me, but it turned out to be a broader issue. The entire individual health insurance market in Washington State is facing increases.

Patty Kuderer, the commissioner of the Washington Office of the Insurance Commissioner (OIC), approved an average increase of 22.2% for individual health insurance premiums on September 10. The insurance companies requested an average increase of 22.4%, and the state deemed 22.2% to be reasonable.

This applies to individuals purchasing insurance directly in the private market, such as through Washington Healthplanfinder. Those using employer-sponsored insurance, Medicare, or Apple Health (Medicaid) are not directly affected by this increase.

The problem is that this isn't the first time. In 2026, premiums also rose by an average of 21%, marking three consecutive years of double-digit increases for individual enrollees.

The increases vary significantly by insurer. Community Health Plan of Washington saw the highest increase at an average of 30.5%, while Regence BlueShield had the lowest at 6.7%.

Kaiser Foundation Health Plan of Washington has an average increase of 14.1%. Additionally, Providence Health Plan has decided not to offer products in the individual market starting in 2027.

Even with the same 22% increase, the impact can feel completely different depending on which company you are enrolled with. Instead of panicking over the average, it's better to check your specific plan number first.

The reasons cited by insurers and the state government include rising medical costs and prescription drug prices, increased medical utilization, and a shift to more expensive services. Commissioner Kuderer also pointed out that reduced competition due to consolidation in the healthcare industry is a contributing factor.

This raises the question of why the increases were approved. The commissioner explained that blocking the increases could lead insurers to exit the market entirely, leaving some counties without any insurance providers.

However, the insurance office clarified that state law only requires insurers to justify their increase requests for approval. There is no legal provision to keep insurers in the market.

That's the situation with premiums, but the real pain comes from the subsidies. Washington State has a state-sponsored premium assistance program called Cascade Care Savings.

This program provides additional monthly premium reductions for individuals with incomes below 250% of the federal poverty level (FPL) who enroll in Cascade Care Silver or Gold plans after receiving federal tax credits. Those who do not qualify for federal assistance can also use it for Bronze plans.

The subsidy limits have been significantly reduced for 2027. According to the exchange's official page, individuals receiving federal assistance had a maximum monthly subsidy of $55 in 2026.

In 2027, those with incomes below 200% of the poverty line will see their maximum subsidy drop to $35 per month, while those between 201% and 250% will receive a maximum of $20. Considering that the limit was $155 in 2024 and 2025, the impact feels even greater.

The limit for individuals not receiving federal assistance has also decreased from $250 to $185 per month. While premiums are rising, the cushion that supported them has thinned.

The exchange's explanation is straightforward. As fewer people qualify for federal premium assistance and premiums rise, the fixed state budget means that subsidies cannot stretch as far as they used to.

The background to this is the expiration of enhanced federal premium tax credits at the end of 2025. After that, individuals exceeding the income threshold will no longer receive federal tax credits.

Honestly, this part is a bit disappointing. The state government has limits on what it can cover, but the federal structure leaves a significant gap, expecting each state to manage on its own.

Still, it feels wasteful to just hit the renewal button. This year's open enrollment started on November 1, and to use new insurance starting January 1, you must enroll or change plans by December 15.

The final deadlines vary by media, so it's recommended to check directly on the Healthplanfinder site. Missing a single date can complicate your year.

This is what I plan to do. First, I will re-enter my expected income for 2027 as accurately as possible.

Both the tax credits and Cascade Care Savings vary by income bracket. If I leave last year's numbers unchanged, I might miss out on potential assistance.

Next, I plan to compare my current plan with other plans of the same tier from different companies side by side. Since the increase varies from 6.7% to 30.5% among insurers, just comparing can reveal differences.

However, when switching to a cheaper plan, it's crucial to check whether your current doctors are in the network and if your medications are on the formulary. It's safest to consult with your doctors or pharmacists about this.

If you're feeling overwhelmed, you can get help from a free navigator connected to Healthplanfinder. You can also ask local Korean community organizations for assistance in Korean.

Seeing the 22% figure can be overwhelming, but breaking it down shows that there are still options available. This year, I plan to turn off automatic renewal for the first time and choose my plan by comparing options myself.

I encourage you to take some time to review your options before the deadline. A 30-minute investment could significantly change your insurance premiums for the coming year.