For families under 65 who don't have employer coverage, the ACA Marketplace is the main path to comprehensive health insurance. Open Enrollment for the 2026 plan year runs November 1, 2025 through January 15, 2026. The changes this year are smaller than in recent years, but the subsidy math has shifted in ways that catch many families off guard.
The big picture for 2026
Enhanced premium tax credits — the expanded ACA subsidies that came from the American Rescue Plan and were extended through the Inflation Reduction Act — remained in place through the 2025 plan year. That means for 2026 Open Enrollment, most middle-income families still qualify for some subsidy assistance.
Whether enhanced subsidies continue past 2025 is a political question that hasn't been settled. The current law expires at the end of 2025 unless Congress acts. We'll update guidance as the situation clarifies.
How premium tax credits actually work
The Premium Tax Credit (PTC) is the subsidy that reduces your monthly Marketplace premium based on household income and family size. Here are the mechanics most people don't understand:
- Your subsidy is benchmarked to the second-lowest silver plan. The federal calculation determines what you'd pay for the second-lowest-cost silver plan in your area. Anything cheaper than that benchmark, the credit helps cover — up to your full subsidy amount. The cheaper the plan you choose, the further your effective subsidy stretches.
- You can apply your subsidy to any metal tier. You're not forced to pick a silver plan to use your subsidy. You can apply the calculated credit to a bronze, silver, gold, or platinum plan. If your subsidy is larger than the plan's premium, you may owe no premium.
- Subsidies are based on estimated annual income. You estimate your household income for the upcoming year. If you under-estimate and earn more, you may owe some subsidy back at tax time. If you over-estimate, you may get the difference as a refund. Estimating accurately matters.
The metal tier decision
Marketplace plans come in four "metal" tiers — each representing the actuarial value, the percentage of healthcare costs the plan covers on average:
- Bronze (60% actuarial value). Lowest premium, highest deductible. The plan pays roughly 60% of healthcare costs after the deductible. Best for healthy people who rarely see a doctor and want catastrophic protection.
- Silver (70% actuarial value). Mid-range premium and cost-sharing. Silver plans can qualify for cost-sharing reductions if your income is under 250% of the Federal Poverty Level — these can meaningfully lower your deductible and copays beyond what the Premium Tax Credit alone provides. For lower-income enrollees, Silver is often the right choice.
- Gold (80% actuarial value). Higher premium, lower out-of-pocket. The plan pays roughly 80% of healthcare costs after the deductible. Best for those who anticipate regular medical care.
- Platinum (90% actuarial value). Highest premium, lowest out-of-pocket. The plan pays roughly 90% of healthcare costs after the deductible. Often makes sense for those with significant ongoing healthcare needs.
Cost-sharing reductions — the Silver plan bonus
Cost-sharing reductions (CSRs) are a separate subsidy from the Premium Tax Credit. They reduce your deductible, copays, and out-of-pocket maximum. CSRs are only available on Silver plans, and only for households with income up to 250% of the Federal Poverty Level.
The practical mistakes most families make
- Auto-renewing without re-shopping. If you don't actively pick a plan during Open Enrollment, you're usually auto-enrolled in last year's plan with adjusted pricing. Premium changes between years can be substantial, and the carrier with the best deal in your area changes annually. Always re-shop.
- Estimating income incorrectly. If you make significantly more than estimated, you may owe back subsidies at tax time. If your income is highly variable — self-employed, commissioned, freelance — build in a buffer for higher income.
- Picking based on premium alone. The lowest-premium plan is rarely the lowest total-cost plan. A high-deductible Bronze plan looks great until you actually need care. Run total annual cost across multiple plans for your specific situation.
- Not verifying your doctors. Every Marketplace plan has its own network. The plan you pick may not include your primary care doctor, specialists, or hospital. Verify before enrolling — the carrier's online directory or a quick call confirms it.
- Missing the Open Enrollment deadline. If you don't enroll by January 15, you're generally locked out for the calendar year unless you qualify for a Special Enrollment Period. SEPs require a triggering life event — losing employer coverage, marriage, having a baby, moving across state lines. Just realizing you need coverage isn't an SEP.
State-specific notes
Most states we serve use the federal HealthCare.gov platform, with Open Enrollment running November 1 to January 15. A few run their own state-based exchanges, so make sure you're shopping on the right platform for your state:
- Federal HealthCare.gov states — including Virginia, Texas, North Carolina, South Carolina, Alabama, Louisiana, Indiana, West Virginia, and Michigan.
- Georgia — transitioned from HealthCare.gov to its own state-based exchange, Georgia Access. The dates and process are largely similar, but the platform is different.
- Maryland — uses Maryland Health Connection, the state's own exchange, with the same enrollment timing.
Want a free Marketplace comparison before Open Enrollment?
We compare total annual cost across plans and verify your doctors and prescriptions are covered — for free.
See your ACA optionsWhat to prepare before enrolling
- Estimated household income for 2026 (be realistic — err on the side of higher rather than lower).
- A list of every prescription medication you take (name and dose).
- A list of every doctor and specialist you see.
- Your preferred hospital and pharmacy.
- Social Security numbers for every household member who needs coverage.
- Citizenship or immigration status documentation, if applicable.
- Information about any other coverage offered (such as an employer plan offer you're declining).
How an independent agent helps
The Marketplace is navigable on your own, but a free independent agent adds value in three specific ways: we run subsidy calculations across multiple income estimates so you can see the impact of estimation errors; we compare actual total annual cost across plans, not just premium; and we verify your doctors and prescriptions against each plan's network and formulary before you enroll. This isn't a sales pitch — these are the practical reasons working with a Marketplace-certified agent often saves families real money compared to choosing alone. And it costs you nothing. If you're an employer thinking about funding individual coverage instead of a group plan, an ICHRA may be worth exploring too.
Availability and rules vary by state
Health plans, premiums, enrollment rules and state programs differ by state and sometimes by county, and a given plan may not be available in every state. Honorbrook is licensed in the 11 states below; what we can offer you depends on what carriers sell where you live. Each state’s insurance regulator can verify an agent’s license and answer consumer questions.
- Virginia: Virginia Bureau of Insurance
- Maryland: Maryland Insurance Administration
- North Carolina: North Carolina Department of Insurance
- South Carolina: South Carolina Department of Insurance
- Georgia: Georgia Office of Insurance and Safety Fire Commissioner
- Alabama: Alabama Department of Insurance
- Louisiana: Louisiana Department of Insurance
- Texas: Texas Department of Insurance
- Michigan: Michigan Department of Insurance and Financial Services
- Indiana: Indiana Department of Insurance
- West Virginia: West Virginia Offices of the Insurance Commissioner