Obamacare (ACA) health insurance premiums are on track for another significant increase in 2027, according to early rate filings from insurers across multiple states.

A new analysis by the Peterson-KFF Health System Tracker found that, among 77 insurers with publicly available proposed rates, the median requested premium increase stands at 14%. This would mark the fifth consecutive year of premium hikes for the program. In 2026, the median increase was ultimately around 20%.

The main driver cited by insurers is a smaller and sicker risk pool. Enrollment in Obamacare dropped by roughly 3 million people this year, with healthier individuals more likely to have left the exchanges. Experts point to the end of enhanced subsidies and the cleanup of fraudulent or unknowing enrollments as key factors behind the decline.

Despite the expiration of those extra subsidies, 87% of 2026 enrollees still receive advance premium tax credits, keeping average monthly premiums low for subsidized buyers (around $96 after subsidies). However, the benchmark silver plan — used to calculate subsidy amounts — jumped about 25% in 2026.

Final rates for 2027 will be submitted by mid-August and made public in October, with open enrollment beginning November 1. Current enrollment stands at approximately 19.2 million, one of the highest levels in the program’s history outside of the peak subsidized years.

The repeated premium increases highlight ongoing structural challenges in the Affordable Care Act marketplace, even as millions continue to rely on it for coverage.