Sticker Shock Season: Picking Your 2027 Health Plan

154 million Americans are covered through workplace plans, and according to the Kaiser Family Foundation (KFF) 2025 Employer Health Benefits Survey, the average annual dollar amounts contributed by covered workers in 2025 were $1,440 for single coverage and $6,850 for family coverage.

Of course, the cost does not stop at the premium amount. You need to add deductibles (the amount you have to pay before insurance kicks in), which averaged $1,886 for single coverage last year, and also a copayment (a fixed dollar amount) or coinsurance (a percentage of the covered amount). For physician office visits, KFF found that the average copayment for a primary care visit was $27, $45 for a specialist, and the average coinsurance rate was 19 percent.

Knowing just how big the dollars are, it’s important to spend some time focusing on your choices. Start by determining if your current plan or your health care needs have changed. Make sure that your doctors and prescriptions are covered and if not, consider alternatives. Many organizations offer High Deductible Health Plans (HDHPs), which offer lower premiums in exchange for higher out-of-pocket costs before insurance kicks in. To help save for increased deductibles, HDHPs are paired with TRIPLE tax-advantaged Health Savings Accounts (HSAs).

The three-part savings works as follows: the money you contribute to an HSA goes into the account pre-tax, the earnings within the account grow without taxes, and when you withdraw the money for qualified medical expenses, there is no tax due. If you leave your job, you can take your HSA with you and use it decades in the future. Annual HSA contribution limits for 2027 will be $4,500 for self-only coverage and $9,000 for family coverage. If you are 55 or older and not enrolled in Medicare, you can contribute an extra $1,000.

HSAs should not be confused with Flexible Spending Accounts (FSAs), workplace savings vehicles that allow you to save up to $3,400 pre-tax in 2026 to pay for unreimbursed health care costs (the new amount has not been announced as of this writing, but it is likely to increase). You need to use the money in an FSA within the plan year, though some employers allow either a “grace period” of up to 2.5 extra months to use FSA money or the ability to carry over up to $680 to use in the following year.

Affordable Care Act (Nov 1 – Jan 15)

If you don't have health insurance through your employer, Medicare, Medicaid, or the Children's Health Insurance Program, you can find coverage through the Affordable Care Act’s Marketplace. That said, when you go to HealthCare.gov, you might experience sticker shock, leading some to question the “affordable” part of the program’s name.

Rising health care prices along with the expiration of enhanced premium tax credits at the end of 2025 has meant that the cost of coverage has jumped. For 2026, the average monthly premium payment among consumers net of tax credits (including those who did not receive premium tax credits) rose 58 percent from $113 to $178, according to KFF, and for 2027, Marketplace insurers are proposing a median premium increase of 15 percent.

Additionally, the 2027 maximum annual limitation for out-of-pocket costs is $12,000 for self-only coverage and $24,000 for other than self-only, a whopping 13.2 percent increase from the 2026 limits of $10,600 for self-only and $21,200 for other than self-only coverage.

To swallow these big increases, many Marketplace enrollees moved from silver to bronze plans, which lowered premiums, though increased deductibles. (All Marketplace Bronze and Catastrophic plans are HSA-eligible in 2027.) Also, check in with your state, because some are launching subsidies for those who can’t afford their coverage.