NEW JERSEY — Health insurance premiums in New Jersey’s individual market, including plans offered through Get Covered New Jersey, will increase by an average of 19.8% in 2027, according to final rate changes released by the New Jersey Department of Banking and Insurance.
The increases will affect individual health insurance plans purchased through the state’s official health insurance marketplace and directly from insurance companies. Open enrollment for 2027 coverage begins Sunday, Nov. 1, 2026, and continues through Jan. 31, 2027.
State officials said the double-digit increases reflect a nationwide trend, with insurers citing rising medical and prescription drug costs, along with changes to the insurance risk pool associated with the expiration of enhanced federal premium tax credits…